Critical Illness plans

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Hi everyone,

If I have already bought a private healthcare insurance with cash rider, do I still really need to get a CI plan/rider for my life insurance? Since health insurance would have already covered the bulk of treatment. What should I consider a CI plan for since it only pays out during late-stage? To make up for lost income and employ a maid?

Thank you!

 

[PRUbombz]

Hi everyone,

If I have already bought a private healthcare insurance with cash rider, do I still really need to get a CI plan/rider for my life insurance? Since health insurance would have already covered the bulk of treatment. What should I consider a CI plan for since it only pays out during late-stage? To make up for lost income and employ a maid?

Thank you!

Income replacement due to loss of income - To pay for fixed expenses, ie household expenses, outstanding loans, livings expenses, etc...

Also to pay for special treatments that may not be claimable using health insurance. This may be another bulk of money.

 

[GE_ric]

Use early payout to cover any unexpected hefty loss of income and expenses other than hospital bills. After all, the bulk of the hospital bills are duly covered by the medical policy, assuming cash rider is purchased. You may or may not need it though, I have clients who have early stage cancer and still able to work while in treatment, so not much loss of income. But it's still a good extra sum to have. So the choice lies in your purchasing wants and power.