Does Critical Illness Insurance Make Sense?
15786 POINTSContact Meview profileBob VineyardPROFounder, Georgia Medicare Plans, Atlanta,GACritical illness insurance can be a wise purchase for many reasons. If you have a good major medical plan you will still have out of pocket expenses for copay's, deductibles and coinsurance. There will also be expenses that may not be covered under your major medical policy. Critical illness can help supplement these costs.Answered on June 4, 2013+01+1 this answer
0flag this answerview more answers by Bob Vineyard
2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaAbsolutely! Critical illness insurance is paid in lump sum payments from anywhere between 10 and 500 thousand dollars. While most medical plans cover hospital and medical expenses, it does not cover things such as medical co-pays, transportation to treatment centers, bills, etc. The lump sum payment allows a person to use the money where it’s needed most, whether it’s for medical bills or regular bills. About 20 major illnesses are covered and it’s perfect for high-risk jobs, non-working spouses and the self-employed (all people who might have a hard time getting disability insurance).Answered on August 20, 2013flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
