How Important Is Critical Illness Insurance?
15786 POINTSContact Meview profileBob VineyardPROFounder, Georgia Medicare Plans, Atlanta,GACritical illness insurance is a relatively new product in the US. Originating in South Africa and Europe, critical illness customarily pays a lump sum cash benefit on first diagnosis for as many as 20 or so "dread diseases". More broad in scope than just a cancer plan, critical illness is something everyone should consider.Answered on May 20, 2013+01+1 this answer
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2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaCritical Illness Insurance helps you pay for the costs not covered by your regular health insurance. Rather than receive monthly payments (like you would with disability insurance), you'll receive a lump sum payment upon diagnosis. The money can be used for anything, including bills, co-pays, mortgage payments, savings, child care, etc. With Critical Illness Insurance, there isn't a waiting period, so you will receive the money immediately. If you have a disability insurance that doesn't kick in until after a waiting period, this money can help fill in the gap. if you have a high-risk profession that makes you unable to receive DI, you can typically still receive critical illness insurance.Answered on August 21, 2013flag this answer
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