Critical illness insurance provides a lump sum payment if you are diagnosed with a serious medical condition listed in the policy. This lump sum can be used to cover medical expenses, lost income, or other financial needs associated with your illness.

Critical illness insurance provides a financial safety net when you need it most. If you're diagnosed with a serious medical condition covered by your policy, it provides a lump sum payment that can help cover medical expenses, lost income, or other financial burdens. This can significantly alleviate stress and anxiety, allowing you to focus on your health and recovery without worrying about financial strain. It's a valuable tool for protecting yourself and your family from the potential financial impact of a critical illness.

The best type of critical illness insurance for you depends on your specific needs and budget. Level cover provides a fixed sum of money, regardless of when you're diagnosed with a critical illness, and is suitable for those who want a guaranteed payout. Decreasing cover pays out a decreasing sum over time, often linked to a mortgage or loan, and is a good option for those who want to cover specific debts or liabilities.

When choosing a critical illness insurance policy, consider factors such as the level of cover, the definition of critical illness, and the insurer's reputation. It's recommended to consult Expatriate Protects financial advisors to determine the best type of policy for your individual needs.

The frequency of your critical illness insurance premium payments typically depends on the type of policy you choose and your preference. Most critical illness insurance policies offer flexibility in payment schedules, allowing you to pay monthly, quarterly, semi-annually, or annually.  

It's important to note that consistent premium payments are crucial to maintain your life insurance coverage. Missing payments can lead to policy lapse, which means you'll lose coverage and may not receive any benefits if you pass away.