1. 15986 POINTS
    Bob VineyardPRO
    Founder, Georgia Medicare Plans, Atlanta,GA
    Critical illness insurance is a special kind of health insurance policy. Once referred to as "dread disease" plans, someone finally wised up and decided to give them a different name.

    CI policies come in two flavors. One is a health insurance policy, the other is a rider to a life insurance policy.

    The policies normally pay a predetermined lump sum amount upon first diagnosis of a list of illnesses including cancer, heart attack, stroke, etc.

    Read your policy carefully. Some are quite good but most are a waste of money.
    Answered on May 11, 2013
  2. 15986 POINTS
    Bob VineyardPRO
    Founder, Georgia Medicare Plans, Atlanta,GA
    Critical illness policies cover as many as 15 or so different kinds of illness. Most critical illness plans pay a lump sum cash benefit on first diagnosis provided you meet the terms of the policy.

    In evaluating critical illness plans read and understand the definitions and make sure you buy a health based plan.
    Answered on June 1, 2013
  3. 63254 POINTS
    Peggy MacePRO
    CEO and Senior Agent, Outlook Life, Inc, Most of the U.S.
    Critical Illness Insurance covers serious illnesses that have the potential to be life threatening. The main ones are heart attack, stroke, and cancer. If cancer is in very early stages, the policy might not cover it, or may cover it with a reduced benefit. Other illness that may or may not be covered by an individual plan are coronary bypass surgery, major organ transplant, Alzheimer's Disease, blindness, deafness, Parkinson's, Multiple Sclerosis, paralysis, and kidney failure.
    Answered on September 1, 2013
  4. 1330 POINTS
    Mark TaylorPRO
    Licensed Life Agent, Life and Finance/ 50 States, New York
    Critical Illness Insurance is a form cash indeminity health insurance that covers Heart Attack, Stroke, Renal Failure(Kidneys) and Cancer. Many times, and with the rising incidence of these sudden illnesses; can be a heavy burden on the financial regards of the family.

    Work, or career is interrupted which is a heavy burden on the family finances. Bills have to be paid, and there is no steady stream of income available and available income is drained for the treatmeant of these ilnesses.

    A Critical Illness Policy will protect you from this burden also wll give you lump sum tax free cash for the treatments of the illnesses.
    Some companies offer different policies in different forms of payments and at low premiums. Different lump sum plans to help with the treatments and even contribute to paying the bills. There are even accident plans that pay per diem.
    Answered on November 14, 2013
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