1. Bob VineyardPRO
    Founder, Georgia Medicare Plans, Atlanta,GA
    Most critical illness plans pay a lump sum cash benefit on first diagnosis of a covered illness or condition. Some plans, especially older ones, will pay a benefit as a reimbursement plan.

    The lump sum plan is superior in many ways. Read the definitions and never buy a life insurance based product.
    Answered on June 2, 2013
  2. Peggy MacePRO
    President and Senior Agent, Outlook Life, Most of the U.S.
    Critical Illness Insurance pays out when the insured person is diagnosed with a covered health condition as listed in the policy. Life threatening illness usually pay 100% of the critical illness benefit. If the illness is serious but not as advanced or as high a stage as to be life threatening, it may still pay a % of the benefit.
    Answered on August 10, 2013
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