Critical illness insurance is a valuable financial tool that provides peace of mind in the event of a serious illness. If you are diagnosed with a major condition like cancer, heart attack, or stroke, this insurance policy offers a lump sum payment, which can be used to cover a wide range of expenses. The funds can help pay for medical bills, treatments, rehabilitation costs, or any other expenses that might arise while you focus on recovery. In addition to medical costs, the payout can be used for everyday living expenses, such as mortgage payments, childcare, and utility bills, which might become more challenging to manage while you are unable to work due to illness. By easing the financial burden during such a difficult time, critical illness insurance ensures that you can prioritize your health and well-being without the added stress of financial concerns.