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Critical Illness Insurance is a type of health insurance that provides financial protection in the event of a serious illness or medical condition. It is designed to provide a lump sum payment to the policyholder upon diagnosis of a covered illness, allowing them to cover medical costs, lost wages, and other expenses. The policyholder is typically required to survive a certain period of time after diagnosis before the benefit is paid out.
The Critical Illness Insurance market is a growing segment of the health insurance industry, with more and more people looking for additional protection against the financial burden of a serious illness. It is often offered as an add-on to existing health insurance policies, or as a standalone policy.
Some companies in the Critical Illness Insurance market include AIG, Allianz, AXA, Cigna, MetLife, and Prudential. Show Less Read more