Does life insurance come with critical illness coverage?

Critical illness coverage normally comes in the form of a rider for most term and whole life policies or as a stand-alone insurance policy.

However, there are a few whole life insurance policies that provide coverage for critical illnesses. Some examples include PRUActive Life and Supreme Early Multiplier.

You can check out the links to see a comparison of the coverage and available riders for term life and whole life insurance.

Hey there!

Critical Illness (CI) coverage comes as an optional add-on for Whole Life plans. Typically, this is achieved by adding on a CI rider to the Whole Life plan. For people who desire limited payment for a 3-in-1 whole lifetime coverage for death, TPD and CI, this is something worth exploring.

CI plans are typically Accelerating in general. What this means is that it accelerates out the death benefit, ie. it reduces your death benefit upon diagnosis of CI. If it's a 100% acceleration, it reduces your death benefit by 100% hence terminating any death/TPD benefit and closing the plan as a result. This can be mitigated by adding an Additional CI rider which pays out for a CI diagnosis but they typically mark up the premiums quite a bit.

There are other ways to go around that either by getting a standalone CI plan or reducing the acceleration of the CI rider. But which option to adopt will depend on what your objectives and budget are. Do consult a licensed financial advisor to fid out more and explore your options.

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