Critical Illness Insurance Protection Against Pandemic Diseases #COVID-19

 In 2014, the Ebola outbreak brought the African continent and most of the world to their knees. Although the virus had been in existence since 1976 throughout the world, but we were all unprepared for its death toll.

Today we face even the deadlier Coronavirus and once again, the Governments of the world were not prepared, thus history has repeated itself. In a bid curtail the spread many countries have closed their borders and commenced nationwide lockdowns. These actions have negatively affected the global economy on a large scale, while it has led to so many persons suffering untold critical illnesses.

It is common knowledge that failing to plan is planning to fail, so at difficult times like this, taking more pro-active measures or decisions about our lives is more imperative than ever, and one such measure is taking out Critical Illnesses Insurance

Why buy Critical Illness Insurance?

Have you ever thought about how your life would change if you are diagnosed with a life-threatening illness? What if you were diagnosed with Cancer today, or had a heart attack tonight? Or a stroke while at home? Where would the money come from to receive treatment? Who would take care of your kids? or tend to your household/family responsibilities?

How would you supplement your income because you cannot work? How would you feel having to tap into your savings or your child’s school funds to pay for the bills and pay for your treatment?

When a person is diagnosed or faces such a tragic illness, they often go into survival mode. However, it is better to plan for this than to have the self -denial mentality of “this won’t happen to me” because you are afraid of the worst.

The National Cancer Control Program (NCCP) advises that 1 in every 2.5 women and 1 in every 2.2 men will have some form of cancer in their lifetime. Available statistics from the Canadian Cancer Society (CCS) indicates that 1 in 9 Canadian women will be stricken by breast cancer in her lifetime and in every 4 minutes a Canadian is diagnosed with cancer.

In Nigeria, the number of new cancer cases is projected to increase by 50% in the next 20 years. Heart attacks cost the Nigerian economy over 10 billion Naira every year in medical services, hospitalization expenses, loss of income and loss of productivity.

The Importance of Critical Illness Insurance

Critical Illness Insurance attempts to fill in the gap between life and disability insurance. While disability policies cover lost employment income due to an accident or illness, Critical Illness Insurance Policies pay a lump-sum tax-free benefit when one is diagnosed with a serious, life-altering illness or condition, and survive a certain number of days.

Conditions currently covered in Nigeria include:

Heart attack, Stroke, Cancer, Kidney failure, Paralysis, Blindness, Coma, Loss of speech, Heart Valve Replacement, Loss of independence etc.

Pre-existing conditions are covered after 6 months of taking the policy; however, they are not covered from the inception of the policy. 

We at IBN are concerned about your future peace of mind and prepared to guide you to procure excellent Critical Illness Program. 

If you have any questions or further clarifications about Critical Illness Insurance in Nigeria, please call Dennis on 07051092576 or reach out to us through our email: 

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