Getting Started
Critical Illness Insurance
Protect Your Future with Critical Illness Insurance
Get the financial security you need in case the unexpected happens.
Critical Illness
What is Critical Illness Insurance?
Critical Illness Insurance is a policy designed to provide a financial safety net in the event you’re diagnosed with a serious illness. These illnesses may include heart attack, stroke, cancer, and other life-altering conditions. The coverage pays out a lump sum to help cover medical bills, living expenses, or other financial obligations during your recovery period.
Why?
Why Do You Need Critical Illness Insurance?
Life can be unpredictable, and the impact of a critical illness goes beyond just health concerns. You might face unexpected medical costs, loss of income due to your inability to work, or the need for long-term care. Critical illness insurance ensures you won’t have to worry about finances when focusing on recovery. Here’s why it’s important:
- Financial Protection: A lump-sum payout can cover hospital stays, medical procedures, rehabilitation, or other associated costs.
- Peace of Mind: You can focus on getting better without the added stress of worrying about lost income or high medical bills.
- Flexibility: The payout can be used for anything—whether it’s medical expenses, daily living costs, or modifying your home for recovery.
Coverage
Covered Conditions
Most Critical Illness Insurance policies include a range of serious illnesses. Coverage typically includes, but is not limited to:
- Cancer (including certain types of benign tumors)
- Heart Attack
- Stroke
- Kidney Failure
- Major Organ Transplant
- Multiple Sclerosis
- Alzheimer’s Disease
- Paralysis
- Coma
- Blindness
Each policy will have specific details, so it’s important to review the terms and conditions carefully.
Process
How Does It Work?
Once diagnosed with a covered illness, you can submit a claim. If approved, the insurer will pay a lump sum, typically tax-free. Here’s a simple breakdown of the process:
- Purchase a Policy: Choose the coverage amount that suits your needs.
- Make a Claim: If diagnosed with a covered illness, submit the required documents.
- Receive Payment: Upon approval, the insurer will disburse the lump sum to help you cover your expenses.
- Use the Funds as Needed: The funds are flexible. You can use them for medical treatment, mortgage payments, home care, or other needs.
Coverage Amount
How Much Coverage Do You Need?
The amount of coverage you need depends on various factors, including:
- Your age and health
- Your existing medical insurance
- The lifestyle expenses you want to cover
- Whether you have dependents or other financial obligations
It’s essential to choose a coverage amount that provides sufficient protection for you and your family, ensuring you’re financially secure during difficult times.
Benefits
Benefits of Critical Illness Insurance
- Immediate Financial Support: A lump sum payment helps cover bills and living expenses while you focus on recovery.
- No Restrictions on Usage: The payout is yours to use however you see fit.
- Access to Better Treatment: The funds can be used to access better medical care or rehabilitation, potentially speeding up recovery.
- Flexible Policies: Different plans are available to cater to your individual health risks and needs.
Application
How To Apply?
Getting coverage is straightforward! Simply follow these steps:
- Get a Quote: Use our online tool to get an instant, personalized quote.
- Select Your Plan: Choose the coverage level and payment options that work for you.
- Complete the Application: Fill out a short form online or talk to one of our agents.
- Start Your Coverage: Once approved, your policy starts, giving you peace of mind.
Critical Illness FAQ's
Got questions? We've got answers
Health insurance usually covers medical costs directly related to your treatment. Critical illness insurance, on the other hand, pays you a lump sum to be used however you need—whether that’s for medical bills, lifestyle changes, or lost income.
Pre-existing conditions may affect your eligibility or the policy’s coverage terms. It’s important to disclose your full medical history to ensure the best coverage.
Premiums vary depending on your age, health, the coverage amount, and the types of illnesses covered. Generally, the younger and healthier you are, the more affordable your premiums will be.
Most providers have an age limit, typically between 50-60 years old for new applicants. However, policies can often be renewed up to a certain age, even if you are already insured.
Yes, there are penalties for not signing up for Part B of Medicare and will be added to your premium.
If you need a new Medicare card you can order a replacement card by phone at 1-800-772-1213, or online at the Social Security Administration web site. Make sure you have your Medicare number ready when you call.