Critical Illness Insurance often comes as an optional addition to a Life Insurance policy, but can also be purchased on its own.
Life Insurance (sometimes known as Life Assurance) helps provide financial security for people who depend on you, should you die. Therefore, Life Insurance is of great value.
Income Protection Insurance pays out a regular tax-free replacement income if you become unable to work because of illness, injury or, with certain policies, unemployment.
Far from being a luxury, Protection Insurance should be considered essential, especially if you have a family or people that rely on your income.