Critical illness insurance is a specialized form of accident insurance designed to provide financial support when an employee of a legal entity is diagnosed with a severe and life-threatening medical condition. This type of insurance offers cash compensation in cases where the employee suffers from a critical illness, such as cancer, heart attack, stroke, or organ failure, or experiences a significant loss of a fundamental bodily function as a result of such an illness.

The coverage typically includes a lump sum payment to help manage the substantial medical expenses, lost income, and additional costs that may arise due to the illness. This financial assistance can be crucial in addressing the economic impact of the diagnosis, allowing the insured employee to focus on treatment and recovery without the added stress of financial burdens.
In summary, critical illness insurance provides a safety net by offering monetary support to employees facing severe health challenges, ensuring they have the means to manage both medical and personal expenses during a difficult time.


What Illnesses Are Covered?

• Myocardial infarction (heart attack)
• Stroke
• Paralysis
• Cancer
• HIV/AIDS
• Multiple sclerosis
• Loss of vision
• Loss of hearing
• Lyme disease
• Other conditions specified in the insurance policy

What Influences the Cost of the Policy?

• Coverage amount
• Industry of employment
• Number of insured employees
• Age distribution of employees
• History of previous claims (for policy renewals)