Critical Illness

Critical illness insurance provides financial assistance when you are stricken with a specific illness. You receive a sum of money after you are officially diagnosed by a doctor. Just like with other insurance, you must pay a premium to keep this insurance active. If you stop paying, your insurance will lapse even if you are still sick.

Different illnesses are covered by this type of insurance. The most commonly covered maladies include stroke, heart attack, and cancer. However, some insurance companies might cover hearing loss, organ transplant surgery, traumatic head injury, and bacterial meningitis.

Many people benefit from this coverage. It helps to have financial help when you are dealing with a serious illness. That is a stressful time, and money issues will only make things worse. It is a good idea to do what you can to lessen the stress.

Coverage Options

Critical illness insurance gives you options. The simplified issue individual protection plan is available in amounts that do not exceed $50,000. This type of plan is generally inexpensive.
But a fully underwritten individual plan is available in amounts up to $500,000. And you must have a good medical history in order to qualify.

If you are at high risk for certain diseases, you might want to consider critical illness insurance.