Critical Illness Insurance / Takaful

Critical illness insurance / takaful is a type of insurance policy / takaful contract designed to provide financial support if you are diagnosed with a serious illness covered under the policy / contract. These plans offer a lump sum payout to help cover medical expenses, loss of income, or other financial needs during recovery.

Critical illness insurance / takaful provides a lump sum benefit upon the diagnosis of a covered illness. This payout can be used for medical treatments, living expenses, or any other financial needs. To claim the benefit, the life insured / person covered must provide medical proof of the diagnosis, and the illness must meet the conditions specified in the policy/contract

1. Financial Support During Medical Emergencies
   Critical illnesses often involve high medical costs for treatments, medications, and hospital stays. Insurance / Takaful ensures you have the financial means to cover these expenses without depleting your savings.
2. Income Replacement
   A serious illness might prevent you from working for an extended period. Critical illness insurance / takaful can act as a financial cushion to replace lost income and maintain your family’s lifestyle.
3. Comprehensive Coverage
   Many policies cover a wide range of illnesses, such as cancer, heart attack, stroke, and kidney failure, ensuring you are prepared for various health challenges.
4. Flexibility in Usage
   The lump sum payout can be used for any purpose, including medical bills, rehabilitation, home modifications, or even paying off debts.
5. Peace of Mind
   Having critical illness coverage reduces the financial stress associated with serious health issues, allowing you to focus on recovery.
6. Supplementary Coverage
   Critical illness insurance / takaful can complement other types of health insurance by covering expenses not included in traditional health plans, such as experimental treatments or alternative therapies.

A critical illness is a severe health condition that requires extensive medical treatment and significantly impacts one's life. These include conditions such as cancer, heart attack and stroke.

The Big five critical illnesses are the most commonly covered conditions in critical illness insurance plans:

• Cancer
• Heart attack
• Stroke
• Kidney failure
• Major organ transplant
• Replacement

While both provide financial support during health crises, they serve different purposes:

• Critical Illness Insurance/Takaful provides a lump sum payout upon diagnosis of a covered illness. This can be used for medical treatment, daily expenses, or lifestyle adjustments.
• Medical Insurance covers hospitalisation, surgeries, and medical bills but does not offer a lump sum payment. Instead, it reimburses or directly pays for medical expenses incurred.

Most critical illness insurance/takaful plans cover a wide range of conditions, including:

• Cancer (early and late stages)
• Medical Insurance Heart-related diseases (e.g., heart attack, coronary artery bypass surgery)
• Neurological conditions (e.g., stroke, Parkinson’s disease, Alzheimer’s disease)
• Medical Insurance Organ-related illnesses (e.g., kidney failure, liver failure, major organ transplants)
• Medical Insurance Chronic conditions that severely impact the quality of life

For a complete list of covered illnesses, refer to our Critical Illness List