"Beyond Numbers: The Human Story of Critical Illness Insurance"

In the ever-unpredictable journey of life, financial planning isn’t just about securing wealth—it’s about safeguarding your future against the unexpected. Individual life insurance, particularly Critical Illness coverage, is a testament to this protection.
In this article, we explore the transformative power of Critical Illness insurance through the story of Alex, a young professional whose life took an unexpected turn.

This journey highlights how a proactive approach to financial planning can provide not only security but also hope and resilience in the face of life’s greatest challenges.

Let’s tell you a story.

Meet Alex, a driven professional with dreams as expansive as the open sky. Life was on track, with a promising career and a bright future ahead. But at 30, Alex received a diagnosis that no one anticipated—a critical illness that would demand not just immense emotional strength, but substantial financial resources as well.

The diagnosis was a wake-up call, transforming what once seemed distant into an urgent reality.

Suddenly, the future was uncertain, and the financial burden threatened to derail not just Alex’s ambitions but also the security of loved ones.

At the heart of this story is the realisation that life can change in an instant.

The financial impact of Alex’s diagnosis was immediate and overwhelming—medical bills alone amounted to ₦12 million.

This included the cost of surgery, ongoing chemotherapy sessions, and specialist consultations. Also, Alex faced an estimated ₦5 million in lost income due to the inability to work during treatment.

With a total financial burden nearing ₦17 million, the situation seemed dire. But amid this turmoil, Alex remembered a decision made years earlier—a decision to invest in a Critical Illness insurance policy with Coronation Life Assurance. This choice, initially made with little thought, became a lifeline in a time of crisis.

“A Lifeline in Policy Terms”

Critical Illness insurance, which had once seemed like a routine part of financial planning, suddenly took on a new meaning.

The policy Alex had secured offered a sum assured of ₦20 million, with an annual premium of ₦450,000. Over the years, Alex had diligently paid a total of ₦1.35 million in premiums.

Upon diagnosis, the policy immediately kicked in, providing a lump sum of ₦20 million. This payout was not only sufficient to cover the medical expenses and lost income but also left Alex with a surplus to address any future health-related costs.

“Financial Resilience”