If you’re considering purchasing a critical illness insurance policy, there are a few things to keep in mind. First, most policies have a waiting period before benefits are paid out, so it’s important to make sure you have other coverage in place during that time. Second, critical illness insurance is typically only available to those who are healthy enough to qualify for coverage – so if you have a pre-existing condition, you may not be eligible for this type of insurance. 

 

If you or your spouse were to get a serious illness, could you cover out-of-pocket costs, experimental treatments, childcare, and other daily expenses that may not be covered by your medical insurance? Research shows that 32 percent of working Americans have outstanding medical debt, and 54 percent of people with medical debt have defaulted on it. One way you can help protect your family financially is with critical illness insurance.   

 

Critical illness coverage provides a lump-sum benefit if you are diagnosed with a covered critical illness. The benefit can be used to help cover the cost of out-of-pocket expenses related to the treatment of the illness, such as childcare, travel, and lodging. There are many different types of critical illnesses that may be covered by a critical illness coverage including cancer, heart attack, stroke, kidney failure, and Alzheimer’s disease. If you’re looking for an affordable way to help protect your family financially in the event of a serious illness, critical illness coverage may be worth considering. Be sure to do your research and compare policies before enrolling in order to find the right coverage for your needs.