By Catherine Joesph

Critical illness life insurance is also known as dread disease cover. The insurance company will also make a payment if the policyholder becomes permanently disabled as a result of injury or illness. It provides a welcome financial boost at a time of emotional stress and financial hardship. Single people, who have no dependants, more likely go in for a critical illness insurance that pays off the mortgage. They get to pay lesser bills if they are diagnosed with a critical illness, but the mortgage life insurance policy with critical cover will only pays out a lump sum equal to the remainder of the mortgage amount.

Critical illness life insurance is designed to give the policy holder a payment on the diagnosis of certain specified critical illnesses to ease their financial burden during such difficult times. Usually, you will find that such policies cover seven core conditions, which is cancer, coronary artery bypass, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke. Before taking out a critical illness life insurance policy, ensure that you check out the list of critical illnesses for which coverage is supported by the insurance company.

Catherine Joseph - critical illness life insurance policy