Critical illness is a specialized form of what used to be called "dread disease" coverage. More comprehensive than a simple cancer plan, critical illness policies normally pay a lump sum benefit on first diagnosis of listed medical conditions including heart attack, cancer, stroke and another 3 - 7 named conditions.
Most carriers do not issue critical illness after age 65 or 70.
Buy a health insurance plan, not a life plan with a critical illness rider.
Social Media Strategist, Disability Insurance Services, California
Just like disability insurance and long term care insurance, the best time to buy critical illness insurance is NOW. The reason why I say this, is because the premiums are based on age. The older you are, the more expensive this type of coverage becomes. Remember the old saying, you can't buy fire insurance when the house is on fire. The time to buy is now!
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Most carriers do not issue critical illness after age 65 or 70.
Buy a health insurance plan, not a life plan with a critical illness rider.