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Critical illness cover quantum
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03 Jun, 2021
by Sarath
Why is your formula for Quantum on CIn cover required the same as what it is for term life. Are we saying we need to have each equal to the other?
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Hello Sarath,
In our opinion, a serious illness can result in equal or higher financial damage to a family than death. A serious illness can result in loss or curtailment of earnings, additional expenses not payable by a health insurance policy. The financial cover for Critical Illness, hence, in our opinion, should be equal to your term insurance coverage.
Regards,
Team Beshak.