FAQs on Critical Illness Insurance

21.03.2019
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FAQs on Critical Illness Insurance

Learn more about this specialized form of personal insurance.

Being diagnosed with a serious, ongoing illness is not something that most people are financially prepared for.  Even if you have a solid health insurance plan in place, this coverage is typically not enough to help you cover all the medical costs associated with your illness.  This is where critical illness insurance kicks in.  Want to learn more about this specialized form of coverage?  Then here are the answers to some of the most commonly asked questions.

1) What is critical illness insurance?

As advances are made in the medical field, more and more people are surviving serious illnesses and health conditions.  However, recovery requires a significant amount of time away from work as well as expensive medical treatments.  While your health insurance can help you address some of these costs, they come with high deductibles and will not cover costs associated with your housing, food costs, and so on.  This is where critical illness insurance comes in.  This form of insurance is meant to supplement traditional health insurance to address the costs that are not purely medical.

2) What is considered a critical illness?

Different insurers will define critical illnesses in their own terms.  However, some of the most commonly accepted types of critical illnesses include the following:

  • Heart attack
  • Certain cancers
  • Stroke
  • Kidney failure
  • Alzheimer’s Disease
  • Major organ transplant

3) What does critical illness insurance cover?

Most critical illness policies offer you a considerable amount of flexibility when it comes to how you would like to use your benefits.  For instance, you could use your compensation to cover things like mortgage payments, credit card bills, and grocery bills.  You can also choose to apply your coverage towards the medical treatments that are not covered by your health insurance.

These are some of the frequently asked questions about critical illness insurance.  Do you have further questions about your health coverage?  If so, then contact the experts at Udell Family Insurance.  Our dedicated team is eager to assist you with all your coverage needs today.

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