What type of health insurance policy provides a lump sum payment for a heart attack or stroke?

A critical illness policy is specifically designed to provide financial protection in the event of a serious health condition such as a heart attack or stroke. This type of policy pays out a lump sum benefit when the insured is diagnosed with one of the covered critical illnesses, allowing them to use the funds as needed for medical costs, living expenses, or any other purposes they deem necessary during their recovery.

This is particularly valuable for conditions like heart attacks or strokes, which can result in significant medical expenses and lifestyle changes. The ability to receive a lump sum allows the insured to focus on recovery without the added burden of financial stress.

In contrast, an accidental death policy pays a benefit only in the event of death due to an accident, and major medical insurance typically covers a broader range of health care services but does not provide a lump sum payment for specific illnesses. Long-term care insurance is designed to cover the costs associated with long-term care services, rather than providing a lump sum for specific critical health issues.