Critical illness plans are plans that pay out a lump sum when the doctor diagnoses you with one of the 37 critical illnesses. The lump sum is meant to help you cope with the period when you cannot work and require rest. One disadvantage of critical illness plans is that it will pay out only once, and it terminates after. This exposes you to risks such as recurrent cancer later in your life, but you can no longer purchase critical illness plans. In response to such risks, insurance companies have come up with multi-pay critical illness plans, which provide multiple payouts during the duration of one’s life. In this article, fundMyLife reviews the Manulife Ready CompleteCare and discusses its features. Note: the information is accurate as of September 2018.
What is it?
Manulife Ready CompleteCare is