Critical Illness
A good critical illness insurance definition starts with an understanding that critical illness insurance is designed to complement your medical and disability insurance – not replace it.A good critical illness insurance definition indicates that benefits are paid regardless of any other insurance. Critical illness insurance provides a lump sum benefit that can be used anyway the policyholder chooses…so your employee can focus on recovery, not finances.
Medical Expenses:
- Medical Co-pays & Deductibles
- Private Nursing Costs
- Medical Equipment or Home Refitting
- Travel to & from Medical Center
Everyday Expenses:
- Mortgage/Rent
- Utilities
- Household Debt
- Groceries
- Childcare
What Critical Illness Insurance Covers:
While most critical illness insurance companies provide coverage for cancer, stroke and heart attacks, they may vary widely as far as the other illnesses they cover, the riders and optional coverage, and the amounts they pay.
Most Plans Cover the Following:
- Cancer
- Heart Attack
- Stroke
- Major Organ Transplant
- End Stage Renal Failure
- Coronary Artery Bypass Graft (CABG)
- Arteriosclerosis
- Parkinson’s
- Alzheimer’s
- MS
- ALS
- Severe Burns
- Paralysis