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Critical Illness

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What is
Critical Illness Insurance ?

Critical illness insurance provides a lump-sum payment to policyholders upon diagnosis of a specified critical illness, such as cancer, heart attack, or stroke. This payment can be used to cover medical expenses, loss of income, or any other financial needs during the recovery period.

It's important to note that critical illness insurance is different from health insurance, as it does not cover routine medical expenses or hospitalisation costs. It is specifically designed to provide financial support upon diagnosis of a covered critical illness.

How Critical Illness Insurance works

Purchase a policy
Purchase a policy

When purchasing a critical illness policy, you select the cover amount (the lump-sum payment you'll receive upon diagnosis) and pay regular premiums to the insurance company. The policy will list the specific critical illnesses covered, which commonly include conditions such as cancer, heart attack, stroke, and organ transplants, among others.

Waiting period
Waiting period

Most critical illness policies have a waiting period, typically 30 to 90 days after the policy becomes effective. If you are diagnosed with a covered critical illness during the waiting period, you will not receive the benefit payment.

Diagnosis of a covered illness
Diagnosis of a covered illness

If you are diagnosed with a covered critical illness after the waiting period, you must provide the necessary medical documentation to the insurance company to initiate a claim.

Survival period
Survival period

Some policies may require the policyholder to survive a specific period after diagnosis (e.g., 14 or 30 days) before the benefit is paid. This is called the survival period.

Claim approval and payout
Claim approval and payout

Once the insurance company approves your claim, they will pay out the lump-sum benefit amount specified in the policy. This payment is generally tax-free and can be used at your discretion to cover medical expenses, replace lost income, pay off debts, or support your family during your recovery period.

Policy continuation
Policy continuation

Depending on the policy terms, your cover may continue after a claim, with potential adjustments to the benefit amount and premiums. In some cases, the policy may terminate after a claim is paid.

Why do you need a
MBFS Personal Lines Insurance Broker


Expertise and tailored advice

Our Broker understands the intricacies of different policies and covers. They can assess your unique needs and risk profile, recommending the most suitable insurance options for your home, car, valuables, and other personal belongings. This personalised approach ensures you are not overpaying for unnecessary cover or underinsured in critical areas.


Competitive quotes and cost savings

Our Brokers have access to quotes from multiple insurance companies, allowing them to compare rates and negotiate on your behalf. This can often lead to significant cost savings compared to dealing directly with individual insurers.


Streamlined claims handling

Dealing with insurance claims can be stressful and time-consuming. Our Brokers can navigate the claims process for you, advocating on your behalf with the insurance company. They can assist in gathering documentation, filing claims, negotiating settlements, and ensuring you receive fair compensation.


Ongoing support and maintenance

You develop a trusting relationship with your broker, who becomes a dedicated advisor understanding your business needs and evolving alongside it. Having a dedicated professional representing your interests provides peace of mind, knowing you have an expert looking out for your business's well-being. They proactively communicate about upcoming renewals, potential risk changes, and market updates, keeping you informed and involved in your insurance decisions.

Benefits of
Critical Illness Insurance

Financial security

Provides a lump-sum payment upon diagnosis, easing the financial burden during a critical illness.


Can be used to cover medical expenses, lost income, or any other financial needs

Access to advanced treatments

Helps afford costly medical treatments, including those not covered by medical aid.

Recovery focus

Allows the policyholder to focus on recovery without worrying about financial strain.

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Disability Cover
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Estate Planning
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Estate Planning means that after the time of your death, the transfer costs of your wealth and assets will be neatly covered by our cover.