Heart Disease was the #1 cause of death in America in 2021. Cancer was the #2 cause of death in America in 2021. Strokes were the #3 cause of death in America in 2021.

How can a Critical Illness plan help me?

Critical illness plans can help pay for costs associated with getting care and treatment from a major diagnosis. It protects from the 3 leading causes of death in the United States. A critical illness policy could be the only thing standing between you and financial ruin if you were to get one of these diagnoses.

Many people believe that major medical would fully cover all expenses that a diagnosis like this would incur. However, some are surprised to discover that major life-threatening treatment is very expensive and not always fully covered. Ongoing treatment could lead to devastation.

Critical Illness policies pay for things that people often overlook:

‣Heart attack

‣Stroke

‣Organ transplants

‣Cancer

‣Coronary bypass

How does critical illness insurance payout?

Typically, a lump sum payment is made to the patient that can be used to cover various expenses in the event of a qualifying serious or life-threatening illness. A benefit of Critical Illness is that it gives you flexibility and versatility to spend funds as you need to.

Since medical bills are a common cause of bankruptcy in the US it would be logical to protect yourself from that fate. A Critical Illness policy can be an affordable option to do so. Critical Illness plans can range from $10,000 to $100,000 in benefits. There are many options out there and they only have different benefits and features, it is important to read the policy details and make sure you understand how the policy works.

In some cases, a critical illness plan can be a way to get more affordable cancer insurance, opposed to having a stand-alone cancer policy. Critical Illness is designed to be a supplemental policy and fill in the gaps of your major medical coverage and is not meant to be a replacement for major medical. It is important to note that you would still need major medical coverage.

Learn more about: Medicare and Affordable Care Act health insurance

Good candidates for a Critical Illness plan include:

‣Primary financial provider for the household

‣Someone insured with a high deductible health insurance plan

‣Person with limited savings for an unexpected illness

‣Family history of chronic or critical illnesses

When should I apply for a Critical Illness policy?

You need to apply for a Critical Illness plan before you need the service. Some critical illness plans may have a wait before they payout. Insurance carriers will not issue a policy to those who are already suffering from one or multiple condition(s) that the policy is designed to cover. It is designed to be there if you need it, but you cannot wait until you need it to apply.