Critical Illness Insurance / Takaful

Critical illness insurance / takaful is a type of insurance policy / takaful contract designed to provide financial support if you are diagnosed with a serious illness covered under the policy / contract. These plans offer a lump sum payout to help cover medical expenses, loss of income, or other financial needs during recovery.

Critical illness insurance / takaful provides a lump sum benefit upon the diagnosis of a covered illness. This payout can be used for medical treatments, living expenses, or any other financial needs. To claim the benefit, the life insured / person covered must provide medical proof of the diagnosis, and the illness must meet the conditions specified in the policy/contract

A critical illness is a severe health condition that requires extensive medical treatment and significantly impacts one's life. These include conditions such as cancer, heart attack and stroke.

The Big five critical illnesses are the most commonly covered conditions in critical illness insurance plans:

• Cancer
• Heart attack
• Stroke
• Kidney failure
• Major organ transplant
• Replacement

While both provide financial support during health crises, they serve different purposes:

• Critical Illness Insurance/Takaful provides a lump sum payout upon diagnosis of a covered illness. This can be used for medical treatment, daily expenses, or lifestyle adjustments.
• Medical Insurance covers hospitalisation, surgeries, and medical bills but does not offer a lump sum payment. Instead, it reimburses or directly pays for medical expenses incurred.

Most critical illness insurance/takaful plans cover a wide range of conditions, including:

• Cancer (early and late stages)
• Medical Insurance Heart-related diseases (e.g., heart attack, coronary artery bypass surgery)
• Neurological conditions (e.g., stroke, Parkinson’s disease, Alzheimer’s disease)
• Medical Insurance Organ-related illnesses (e.g., kidney failure, liver failure, major organ transplants)
• Medical Insurance Chronic conditions that severely impact the quality of life

For a complete list of covered illnesses, refer to our Critical Illness List