--- title: What is Critical Illness Insurance and why you need it? description: Critical Illness Insurance is a Living Benefit. It pays the insured a cash lump-sum on the diagnosis of a major illness covered by the policy. image: https://www.financialplanningindubai.com/hubfs/Stock%20images/Businessman%20standing%20with%20umbrella%20keeping%20orange%20arrow%20concept%20on%20background.jpeg --- [![Financial_Planning_in_Dubai_logo](https://www.financialplanningindubai.com/hs-fs/hubfs/Financial%20Planning%20in%20Dubai%20Logo_9090-2.png?width=90&height=90&name=Financial%20Planning%20in%20Dubai%20Logo_9090-2.png "Financial_Planning_in_Dubai_logo")](https://www.financialplanningindubai.com/?hsLang=en-gb) - [Home](https://financialplanningindubai.com/) - [Blog](https://www.financialplanningindubai.com/blog) - [Services](https://www.financialplanningindubai.com/services) - [Islamic Investments & Takaful Plans](https://www.financialplanningindubai.com/blog/salama-hyat-plus-takaful-plan) - [Medical Insurance](https://www.financialplanningindubai.com/blog/topic/medical-insurance) - [Free Resources](https://www.financialplanningindubai.com/free-finanical-tools) - Tools - Calculators - [S&P 500 Investment Calculator](https://financialplanningindubai.com/sp-500-investment-calculator/) - [Life Insurance Calculator](https://www.financialplanningindubai.com/life-insurance-calculator) - [SIP Calculator](https://financialplanningindubai.com/sip-calculator/) - [Lumpsum investment calculator](https://www.financialplanningindubai.com/lump-sum-investment-calculator) - [Inflation Calculator](https://www.financialplanningindubai.com/inflation-calculator-uae) - [Net-Worth Calculator](https://www.financialplanningindubai.com/blog/free-personal-balance-sheet-template-networth-statement) - [The Best Budget Planner for Expats](https://www.financialplanningindubai.com/expat-budget-planner) [Book A Discovery Call](https://www.financialplanningindubai.com/meetings/damodhar?hsLang=en-gb) # What is Critical Illness Insurance and why you need it? ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) 20 Mar 2019, 17:45:52 ###### [critical illness insurnace](https://www.financialplanningindubai.com/blog/topic/critical-illness-insurnace) Major Ailments like Cancer, Stroke or organ failure can keep a person away from work for months or even years resulting in temporary or permanent loss of income! Have you ever imagined how your life would change if you were diagnosed with such an ailment? > "Employees are entitled to sick leave of not more than 90 days per year subject to conditions stipulated in the law. They will receive full pay for the first 15 days, half pay for the next 30 days and no pay for the rest 45 days." - https://www.khaleejtimes.com ## Risk of Losing of Income and more... In the event of diagnosis, treatment and recuperation of an ailment extending beyond 45 days, employees are not eligible to receive salaries while absent from work. **Sick leave extending beyond 90 days may also lead to the loss of employment and associated benefits like residency visa, employer-provided medical and life insurance.** Self Employed professionals who offer personalised services like Doctors, Lawyers, Architects & Chartered Accountants are also at risk of losing income and clients in the event of diagnosis of a serious illness. Business Owners and Partners have much more than income at stake. Their business performance may slack or stall due to their absence and lack of management efficacy resulting in loss of revenue, profits, capital and goodwill. ![What is Critical Illness Insurance](https://www.financialplanningindubai.com/hs-fs/hubfs/Stock%20images/Businessman%20standing%20with%20umbrella%20keeping%20orange%20arrow%20concept%20on%20background.jpeg?width=750&height=566&name=Businessman%20standing%20with%20umbrella%20keeping%20orange%20arrow%20concept%20on%20background.jpeg) Whether you are a business owner, a professional or a Salaried individual, it can be difficult or almost impossible to sustain in UAE without a regular income. Having adequate critical illness coverage can be very useful in such situations. --- ## What is Critical Illness Insurance? Critical Illness Insurance is a Living Benefit. It is designed to mitigate the loss of income, by paying the insured an agreed cash lump-sum on the diagnosis of a major illness covered by the policy. It helps the insured focus on recuperation instead of worrying about; - Living Expenses - Rent / Mortgage - Children's school /University Fees - Loan Repayments, etc., - Loss of Business Revenue, Profitability and Capital Typically expats choose to move back to their home country in the event of diagnosis of a major ailment, forcing them to rely on their savings or assets for supporting their medical and living expenses. Given the rapid technological disruption, slow economic conditions and extreme competition, it could be difficult to get back into employment/profession or restart a business after a long break. Critical Illness Insurance can be very useful in such situations to realign one's finances by helping the insured - To pay off large debts like a mortgage - To keep aside money for children's higher education/Marriage - To support an early retirement - Or to create a passive income source while managing to live on a lower than before income --- In UAE Critical Illness Insurance is offered by major international Insurance companies like; - [Zurich International Life ](https://www.financialplanningindubai.com/blog/2017/05/15/zurich-insurance-dubai?hsLang=en-gb) - Friends Provident International - MetLife - LIC International - Salama - Islamic Arab Insurance Company ### Expert and Unbiased Advice To know more about Life and Critical Illness Insurance, schedule a 15 minutes Free Discovery Call with me, or read the following articles; - [The story of Critical Illness Insurance and Have-nots!](https://www.financialplanningindubai.com/blog/the-story-of-critical-illness-insurance?hsLang=en-gb) - [Zurich Futura Critical Illness Benefit - Complete List & Details](https://www.financialplanningindubai.com/blog/zurich-futura-critical-illness-benefit-complete-list-details?hsLang=en-gb) - [Zurich Insurance Claims Statistics - 2018 -  Middle East](https://www.financialplanningindubai.com/blog/zurich-insurance-middle-east-claims-statistics-2018?hsLang=en-gb) [Click here to book a Discovery Call](https://www.financialplanningindubai.com/meetings/damodhar?hsLang=en-gb) ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours... Share this article on [mailto:?subject=Check%20out%20What%20is%20Critical%20Illness%20Insurance%20and%20why%20you%20need%20it?%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/what-is-critical-illness-insurance](mailto:?subject=Check%20out%20What%20is%20Critical%20Illness%20Insurance%20and%20why%20you%20need%20it?%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/what-is-critical-illness-insurance) ##### Read more - [The Real C-Suite – The Only Title That Matters 🏆](https://www.financialplanningindubai.com/blog/breadwinner?hsLang=en-gb) - [The Wealth Secret 99% of Investors Ignore – Will You?](https://www.financialplanningindubai.com/blog/the-iceberg-of-investing?hsLang=en-gb) - [From Risk to Reward? The Shifting Case for China Investing](https://www.financialplanningindubai.com/blog/from-risk-to-reward-the-shifting-case-for-china-investing?hsLang=en-gb) ## Further Reading [![4 reasons, Why you need Critical Illness Insurance in UAE?](https://www.financialplanningindubai.com/hs-fs/hubfs/Imported_Blog_Media/shutterstock_386600047-1.jpg?width=300&name=shutterstock_386600047-1.jpg)](https://www.financialplanningindubai.com/blog/critical-illness-insurance?hsLang=en-gb) ###### [Life Insurance,](https://www.financialplanningindubai.com/blog/topic/life-insurance)[Critical Illness Insurance](https://www.financialplanningindubai.com/blog/topic/critical-illness-insurance) ##### [4 reasons, Why you need Critical Illness Insurance in UAE?](https://www.financialplanningindubai.com/blog/critical-illness-insurance?hsLang=en-gb) Critical Illness Insurance is a living benefit that helps you protect against loss of income on the... [Read More](https://www.financialplanningindubai.com/blog/critical-illness-insurance?hsLang=en-gb) [![How to protect against loss of income due to Critical Illness?](https://www.financialplanningindubai.com/hs-fs/hubfs/Imported_Blog_Media/shutterstock_130138823.jpg?width=300&name=shutterstock_130138823.jpg)](https://www.financialplanningindubai.com/blog/how-to-protect-loss-of-income-due-to-critical-illness?hsLang=en-gb) ###### [Life Insurance,](https://www.financialplanningindubai.com/blog/topic/life-insurance)[Critical Illness Insurance,](https://www.financialplanningindubai.com/blog/topic/critical-illness-insurance)[Critical Illness insurance in Dubai](https://www.financialplanningindubai.com/blog/topic/critical-illness-insurance-in-dubai) ##### [How to protect against loss of income due to Critical Illness?](https://www.financialplanningindubai.com/blog/how-to-protect-loss-of-income-due-to-critical-illness?hsLang=en-gb) A major critical illness like Cancer, Heart attack, or Stroke can take a long time for recovery,... [Read More](https://www.financialplanningindubai.com/blog/how-to-protect-loss-of-income-due-to-critical-illness?hsLang=en-gb) [![The story of Critical Illness Insurance and Have-nots!](https://www.financialplanningindubai.com/hs-fs/hubfs/Critical%20Illness%20Insurance%20in%20UAE%20%281%29.jpeg?width=300&name=Critical%20Illness%20Insurance%20in%20UAE%20%281%29.jpeg)](https://www.financialplanningindubai.com/blog/the-story-of-critical-illness-insurance?hsLang=en-gb) ###### [critical illness insurnace](https://www.financialplanningindubai.com/blog/topic/critical-illness-insurnace) ##### [The story of Critical Illness Insurance and Have-nots!](https://www.financialplanningindubai.com/blog/the-story-of-critical-illness-insurance?hsLang=en-gb) The Story of Critical Illness Insurance. Critical illness insurance was invented by [Marius...](https://en.wikipedia.org/wiki/Marius_Barnard_(surgeon)) [Read More](https://www.financialplanningindubai.com/blog/the-story-of-critical-illness-insurance?hsLang=en-gb) *Damodhar Mata | Your Trusted Financial Advisor in Dubai* ![Damodhar Mata-7-2](https://www.financialplanningindubai.com/hs-fs/hubfs/Damodhar%20Mata-7-2.png?width=119&height=119&name=Damodhar%20Mata-7-2.png) *I can help you grow wealth, gain passive income, and achieve your goals faster and with ease. * **Top Pages** - [Home page](https://www.financialplanningindubai.com) - [Best Life Insurance](https://www.financialplanningindubai.com/best-life-insurance-dubai) - [Best Investment Plan](https://www.financialplanningindubai.com/blog/how-to-invest-in-uae) - [Retirement Planning in the UAE](https://www.financialplanningindubai.com/retirement-planning-in-uae) - [FIRE Early Retirement Guide](https://www.financialplanningindubai.com/blog/early-retirement-in-uae-fire-guide) - [Best Child Education Plan](https://www.financialplanningindubai.com/childrens-education-planning) **Top Blog Posts** - [Financial Planner or Financial Advisor?](https://www.financialplanningindubai.com/blog/financial-planner-or-financial-advisor) - [How to find the Best Financial Advisor](https://www.financialplanningindubai.com/blog/best-financial-advisor-uae) - [Win With Money Challenge](https://www.financialplanningindubai.com/blog/30-days-win-with-money-challenge) - [FIRE guide for expats](https://www.financialplanningindubai.com/blog/early-retirement-in-uae-fire-guide) - [Pay Yourself First](https://www.financialplanningindubai.com/blog/how-expats-in-uae-can-grow-wealth-using-pay-yourself-first-strategy) - [Google Reviews](https://www.financialplanningindubai.com/testimonials-financial-advisor-in-dubai) **Other pages** - [About us](https://www.financialplanningindubai.com/about-us) - [Testimonials](https://www.financialplanningindubai.com/testimonials-financial-advisor-in-dubai) - [Services](https://www.financialplanningindubai.com/services) - [Contact us](https://www.financialplanningindubai.com/contact-us) --- © 2024 Financial Planning in Dubai. 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