What is the primary purpose of Critical Illness Insurance?

The primary purpose of Critical Illness Insurance is to offer a lump sum payment upon diagnosis of a covered critical illness, such as cancer, heart attack, or stroke. This financial support is designed to help the insured manage the various costs associated with their illness, which may not be fully covered by other forms of insurance. The lump sum can be used for a range of needs, including medical expenses, alternative treatments, or even lifestyle adjustments during recovery. This aspect of Critical Illness Insurance stands out because it empowers policyholders to make choices that best suit their individual circumstances after a diagnosis, whether that means seeking additional medical care, taking time off work, or adapting their home environment.