Plan A: Never get seriously ill in your life. Plan B: Panic?
September 13, 2018

Facing a serious illness is physically, mentally, and financially difficult. You need a real backup plan.
Serious illnesses can drain your finances in unexpected ways:
Facing a critical illness is a life-changing experience:
The recovery process often includes self-reflection and the re-evaluation of life goals. Perhaps you may decide to quit your job or go on a once-in-a-lifetime vacation. Nobody really knows how they will react to a critical illness until they are experiencing it for themselves. Sadly, given the high occurrence rate of such illnesses, you have no choice but to prepare for the possibility that it could happen to you.
This is where Critical Illness Insurance can help. Once you have been diagnosed, this policy will provide you with a lump sum that you can use in whatever way best fits your needs. This sum is NOT taxable, and once it’s paid, there are no restrictions as to how you can spend it—whether that’s a trip to Bali, or paying off your mortgage.
You may already have Disability Insurance or Life Insurance, or both. So what's the difference?
- Disability Insurance is only intended to replace a monthly salary and cover regular expenses; it’s usually not enough to cover extra costs.
- Life Insurance is there to help your family reduce financial strain after your passing.
- Critical Illness Insurance is a living benefit, meaning that it gets paid out to you (in full) to use for large expenses at-will.
Here's what to look for when purchasing Critical Illness Insurance:
PROLINK’s blog posts are general in nature. They do not take into account your personal objectives or financial situation and are not a substitute for professional advice. The specific terms of your policy will always apply. We bear no responsibility for the accuracy, legality, or timeliness of any external content.