Critical Illness

Critical illness insurance should be looked at as an investment. Many people are of the belief that illnesses only happen to others. Yet, most people today know of someone who has been diagnosed with Cancer or had a Stroke or Heart attack.

As a healthy individual, it is difficult to envision how a critical illness will impact your life and the lives of your loved ones. The reality is you have a better chance of surviving a critical illness, than you do of dying from it. The question is, “will you be able to survive financially?”

Critical Illness Insurance was designed to help people financially, when they became seriously or critically ill. Upon diagnosis a lump sum benefit is paid to the policy owner.

With options such as return of premiums, second event riders & family counselling, Critical Illness insurance should be included in every person’s financial plan.

History

The first critical illness product was launched in South Africa by Dr. Marius Barnard. Barnard was motivated by the financial hardship he saw his patients suffer after he had treated their critical illnesses to convince the South African insurance companies to introduce a new type of insurance to cover critical illnesses. Barnard argued that, as a medical doctor, he can repair a man physically, but only insurers can repair a patient’s finances. On Oct 6, 1983, the first critical illness insurance policy was launched.