Critical Illness Insurance is a unique policy that can be adjusted to suit your individual needs

criitcal illness insurance

What is Critical Illness Insurance?

Critical Illness Insurance is a particular type of insurance providing financial security if there is a serious medical issue, illness or emergency. It is uniquely arranged to help the policy holder and family, since everyone has different personal situations. Several factors taken into consideration when working on a Critical Illness policy. Your family’s medical history, your health, sex and age, as well as the extent of coverage you are looking for in a policy, are all factors the insurance broker uses to find the right policy for you.

Critical Illness Insurance Uses

There are many benefits with this type of insurance. Medical treatments not usually covered by the regular policies, and services not commonly available, are now accessible. Most policies from employers are helpful, but only cover so much. Critical Illness Insurance, helps with daily living costs, so those who are ill can just work on healing and getting better. Transportation to and from appointments or treatments, installing chair lifts in the home, and making vehicles accessible is covered.

You can use the funds to spend more time at home with family or take much needed vacations, helpful when dealing with a terminal illness. Child care is also covered with critical illness insurance. This type of policy tends is flexible, so you can use the funds in whatever way you need. If you get ill or unable to work, you won’t have to worry. The funds are given in a lump sum, which helps manage financial situations immediately.

What Is Covered?

Some examples, but not all, of illness or situations covered under a Critical Illness Insurance policy are: Cancer, Heart Attack and Heart Surgeries, and Organ Transplants. You will need to read over your particular insurance policy to see what is covered in your case.

There are limitations to Critical Illness Insurance. Usually low cost, this is likely because not every illness is covered.  For example, not all cancers are on the list, or certain chronic illnesses. If you develop a recurring illness, there is a chance it will not be covered. It will cost you more, to have more illnesses added to your policy’s list for coverage. A “minimum survival period,” clause can be found in some critical illness insurance policies. This is when the policyholder has to live for a set number of days after being diagnosed, then the funds are will be released.

During any period of uncertainty, you should speak to an insurance broker who had the expertise to guide you. A Critical Illness Insurance policy doesn’t need to be a lone policy for you, to save money, you can add Critical Illness insurance to a policy you already have.

Don’t wait for a health emergency to strike. Get the protection you need with critical illness insurance that fits your specific circumstances. Contact Harpreet Puri today to learn more.