What Is Accident And Critical Illness Insurance?
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63333 POINTSview profilePeggy MaceMost of the U.S.In the United States, Accident and Critical Illness Insurance generally refers to two different types of policies. The first, Accidental Death Insurance, pays a lump sum benefit to the beneficiaries of those who suffer accidental death. Critical Illness Insurance pays a lump sum benefit to the insured person who is diagnosed with a serious health condition.Answered on August 31, 2013flag this answer
1380 POINTSview profileJames ElbaumPresident | Founder, CLM Insurance Group, Delray Beach, FLAccident and Critical illness insurance are similar in structure, but cover different things. Both policies will typically pay out a lump sum or up the benefit amount directly to the insured or a provider of their choice. The difference however is that accident plans only cover medical expenses associated with an accident where as critical illness insurance pays lump sum upon diagnosis of a major critical illness. Make sure to read the list of covered critical illness' in the policy before purchasing.Answered on April 7, 2014flag this answer
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