Do you think that critical illness insurance is a good investment?

This is a type of insurance that pays you, if you have a heart attack or are diagnosed with cancer. If one does not suffer or die from certain illnesses, then one's beneficiary is given the premiums that have previously been paid to the insurance company.

Let me clarify my words. By "investment," I don't mean that I will make money from having the insurance. But I mean, is it a good way to spend my money. Or is it a waste of money?

It isn't a bad deal. Suppose you do die from cancer?

But you might do better to buy life ins, that pays for just aboutanything you might die from.

When I worked in Insurance, we called these "submarine accident in Kansas policies."
The chances of being in a submarine accident in Kansas is soooo remote...
With limited policies like this, you must ask "is it a good deal, " and , if so, for who?

I am not saying, "Don't buy it." but you can be insurance-poor.

I dont believe in insurance. Its better if you invest your money in a business and be an entrepreneur. Now, that's a good investment. Question is: what's a good business to make?

If u think buying the critical illness insurance as an investment then u better put in other investment tools in the market. This is because the insurance purpose is to cover ur living expenses during the illness strikes. And i dont think that the insurance company will only pays u the money when u died from one of the illnesses, is if u diagnosed one of the illnesses. If the insurance term are as u mentioned then is more worst if u treat it like and investment tools..

It's a waste of money - you need to have health type coverage that pays NO MATTER WHAT goes wrong with you.

It's paying off for my mother-in-law. She was diagnosed with breast cancer last year and been under going all the treatments, chemo and all that. The benefits from the policy have kept her out of the poor house.

As long as the premium is affordable to you & you may think you are in a risky category, it is a great use of your money. Sometimes being off of work for extended periods of time can be a horrible experience. If you are unable to work due to a critical illness like cancer, heart attack, stroke etc., you most certainly could use that money to keep living expenses going. Being ill & having to re-coupe over months, can be a true hardship to anyone. Having a years salary paid out to you (or more) can really help a family out, like bugs280.