Critical Illness Insurance

Critical Illness Insurance protects you against a wide range of conditions, helping you to pay medical costs due to qualifying ailments. As with all insurance, what will be covered will vary across carriers and policy types.

Do I Need Critical Illness Insurance?

In short, if you are worried about the financial impact of a critical illness on your life, then you should consider adding critical illness insurance to your portfolio of protection.

Many conditions that used to be fatal are now treatable, which has led to a dramatic increase in critical illnesses. Health insurance and long-term care plans can help with costs but do have some drawbacks when it comes to critical illnesses.

For Instance:

  • Health Insurance involves Out-of-Pocket expenses (such as deductibles, copayments, coinsurance) which, depending on your coverage and condition, may still be quite high.
  • Long-Term Care Insurance and Disability Insurance are valuable protections to own but likely will not issue benefits after a certain period of continuing illness, disease, or condition.

This leaves a gap and a potentially damaging financial/health situation. Critical Illness Insurance provides coverage for this gap, issuing funds that could be used to help with medical expenses or replace lost income.

Standalone critical illness protection is available, but many life insurance products offer a critical illness rider that allows you to accelerate your death benefits. This lets you pay one premium and get the coverages you need.

Contact us now to learn your Critical Illness Insurance options.