The policy is designed to give you peace of mind should anything happen to you. It ensures you have financially safeguarded your family if you were to pass away. If you do already have health problems or a condition it is very important to have life insurance as you are at a higher risk of having health problems. The policy ensures all your bills, debts and your mortgage are covered if you were to die, so your family are not left struggling.
If the policy holder were to pass away a benefit amount would be paid to the beneficiaries. How this amount is paid is up to you. The benefit amount can either be released as a lump sum or as a monthly instalment.
There are many aspects of this policy that cover you for most eventualities. However, if you are at an increased risk of having health issues, the critical illness benefit is a great addition. The critical illness benefit will be paid to the beneficiaries if you were to be diagnosed with a critical illness. This would help you make any future life changes that would need to be made and would also help your family continue to pay the bills.