Well that is like asking do I need car insurance or perhaps do I need Health insurance. Is it a necessity?
Advances in the medicine over the past few decades have allowed more people to survive critical illnesses. Approximately more than three (3) million people a year are getting critical illnesses and Cancer said to be leading the pack as well as heart attack. Survival can result in unexpected financial hardships. This is why critical illness insurance has become so important.
Imagine getting diagnosed with cancer having to be off your feet and then not being able to work. Could your income stop and you survive? Do you have enough money whereby you could afford to live…literally? Do you have money for clinical trials, or to have your spouse stay out of work to help you because you have no home health care? How about the continuous bills adding up or would you just lose your car, and house due to non payments? Fifty percent that actually over 50% of all bankruptcies are due to medical bills and the average was just under $15,000. That was simply the health coverage they already had but had copays and deductibles to deal with and couldn’t afford those that, or the real care they needed. Worst case scenario…well you know the worst case scenario.
Critical illness insurance isn’t for everybody…The only people it is not for, are people that are diagnosed recently and not done overcoming the Cancer, Heart attack, stroke or many other critical illnesses. Certainly it can be argued that children are less likely to get diagnosed with such a disease, but, have you never heard of St. Jude’s children’s hospital? How about major burns, that’s not a disease but certainly anyone is susceptible to other covered conditions such as major burns right? Well there are more conditions than that and some policies even have a return of premium so what loss is there?
Many experts would agree;
you need critical illness insurance.
Perhaps not every insurance is needed, perhaps not all services are needed, but at the time something occurs you always wish you had taken it when you thought about it.
Say that you cant afford it… Well think again!
The average policy sold is around $40 a month. that means that you cant afford not too. While you may opt for more coverage, it merely depends on primarily three (3) factors;
Age – the older you are the more likely statistically you are at risk of getting a critical illness
Tobacco user or not -Since tobacco use has been a linking factor it can be aas much as double premium, but if thats the case -you should get it
How much coverage- Well obviously ou get what you pay or and in a time when diagnosed the last thing you have is time or want to worry about cost of medical treatment. Most policies pay within 6 weeks even though they state upon diagnosis it could be 30 days after or more and there trull is no time to waste. get a policy that can pay in a couple of weeks.
As for coverage well if you are getting this to cover more than the health insurance major medical deductibles and co-insurance and home healthcare during recuperating and replacing income while the recuperating and clinical trails and and and…well you may want to get yourself a respectable amount. That could be 50k, 60, 75, or $100,000 maybe more, but make sure you can afford to keep it as something is better than nothing or receiving a check from coverage is better than a get well card as they say!
It can be difficult to find the right one or even know where to begin so contact an expert by going to eCancerInsurance.com or the leaders in the U.S. at CriticalIllnessPolicies.com here where you can get quotes and speak to an agent whom can assist and get the process started.
It can be confusing with a splash of boring, but, most satisfying. When finished, with most applications there is an underwriting but that is normal even if it is “simplified underwriting” it can be made into an easy process. Consultation perhaps only 5 min application perhaps 10, since we spend more time doing vacation planning this should be a cake walk.
Oh, to answer your question, Do I need Critical illness Insurance? Well you may not feel like you need road side assistance, but it does come in handy when your car is broke down, and, YOU,when you break down…will you wish you had been covered?