YES you can.
Most companies provide this as a standalone policy (meaning you don’t have to purchase life insurance with it – just like signing up for a medical card).
How does it work ?
Once the insured is diagnosed of a critical illness (refer to the list of illnesses in your policy contract – usually 30 or more) after the stated waiting period, a lump sum payment based on the amount insured will be payed out, after which, the policy is terminated.
Simple english : The moment you are diagnosed of a critical illness, your insurer pays you in 1 shot.
It could range from anything between RM 10,000 to RM 250,000 or more.
Why would you buy this kind of policy?Just like a term policy, you pay the minimum possible amount of premium in return for the highest amount of protection.
How Much ?
Ahhh.. now you’re talking! Well, depending on your current age, it could be anywhere between RM 300 – 3,000 per annum based on the amount of Critical Illness coverage.
Some insurers package this plan with a daily hospital allowance to make the plan more attractive. Another plus point is that I know of a company whereby you pay level premium at entry & stop paying at age 55 BUT you are covered up to age 70 FOC.
WOW ! not bad huh?! The next logical question would be “Where do I sign?” (ehm.. ehm)
