Understanding Critical Illness Insurance

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Why subscribing to a critical illness insurance while care is accessible and free with public health care coverage?

And, while all those services adding up from a group insurance plan covering drugs or a disability insurance, this should be enough protection, right? Well, not really.

Why a critical illness insurance?

Life is unpredictable, and so is health. Of course, cost related to care can be covered by public or private health insurances, but your wallet or your retirement investments will cover collateral costs:

  • Non-covered medication
  • Home care
  • Travels
  • Adapted equipment purchases
  • Home adaptation
  • Outbound care accommodation
  • Domestic support
  • Specific treatments abroad
  • Debts repayment (mortgage, credit, loan)
  • Etc.

And if you are an entrepreneur or not covered for medication and disability through a group insurance, losing 3 to 5 months of salary is simply unthinkable.

Critical illness insurance will help you to:

  • Pay for business expenses
  • Plan an income in case of long-term absence
  • Provide a financial compensation allowing a relative’s presence 

What covers a critical illness insurance?

AdapCI covers up to 24 critical illnesses and 4 non-critical illnesses.

Besides, a high quality critical illness insurance like AdapCI includes several support services (medical, legal, psychological and housing) to ensure your well-being.

How does a critical illness insurance work?

Contrarily to a life insurance, critical insurance pays during your lifetime. Its main goal is to offer the best conditions for you to heal and keep financial worries away.

A critical illness insurance can pay from $10,000 to $2,000,000 to cover expenses incurred following the diagnosis of one of the illnesses covered by the policy.

Similarly, the insurance usually covers some non-critical illnesses, like most successfully treated cancers. At UL Mutual, following the diagnosis of one of those illnesses, you receive an instalment of 10% of the sum insured in force for a maximum of $50,000.

Benefit payments or premium refunds at 100%

With UL Mutual’s critical illness insurance, you will never lose paid premiums, no matter what happens! Contrarily to most insurance products, you can get a refund of your entire premiums, either gradually from the 10th anniversary of the policy, or entirely once payments are terminated. And in case of death without using the critical illness insurance? Your beneficiary receives 100% of premiums.

Illness has real risks for you and your relatives. Nobody can control it. Being well organized financially and disposed to focus on your recovery, that can be controlled!

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