Critical illness insurance provides you with additional coverage – in the form of a lump sum benefit – for medical emergencies like heart attacks, strokes, or cancer.

Because these emergencies or illnesses often incur greater-than-average medical costs, these policies pay out cash to help cover those overruns when traditional health insurance may fall short. You are able to use this money to reduce your financial burden while you focus on your recovery.

The money can also be used for nonmedical costs related to the illness, including transportation, renovations to install a wheelchair ramp, childcare, and so on.