Policies and Plans

Critical Illness Policies and Plans

If you’re an average American, there is a nearly one in five chance that you will be diagnosed with a critical illness well before you reach retirement. Regardless of how healthy you are, you do have the potential need for a Critical illness Policy, especially if you have a history of cancer, diabetes, heart disease or other critical illnesses in your family.

A critical illness diagnosis, and the resulting treatment, can put a heavy strain on your monthly income because of medical expenses. Even if you have health insurance, a critical illness will exact a tremendous toll on your finances.

What’s worse is that you’re unlikely to be able to work due to your illness, further making matters worse. Having critical illness coverage wouldn’t lower your chances of being diagnosed. However, it does help greatly when it comes to ensuring that you will not encounter big financial problems should you get diagnosed.

Choose a Plan and Insurance Company that’s Right for you

Most people are aware of the importance of having life insurance. It does make sense that you should invest for the security of your family after you die, but they tend to overlook the fact that critical illness insurance is just as important. You are more likely to get seriously ill than die before you are able to retire, but a lot of people believe that it will not happen to them. The problem is it does indeed happen, and it happens a lot. You can probably name one or two people that have been diagnosed with cancer or someone that had stroke.

Critical illness insurance gives you a lump sum after around two to three weeks after you get diagnosed with a critical illness that is covered by the policy. You can use this money for anything, such as for paying any outstanding mortgage, payment for medical bills, tuition for your children, and such. Basically, it fills in for whatever lost income you lost upon getting diagnosed.

The Benefits far Outweigh the Cost

The most common excuse not to buy critical illness insurance is because of its cost. Since you are more likely to file a claim for critical illness insurance than for a life insurance, the premium is more expensive. That means a lot of people pass on getting critical illness insurance during times that they are least expensive, when they are young. The sooner you get medical insurance, the smaller the average premium that you have to pay.

Deciding on getting critical illness insurance depends a lot more on personal preference than life insurance. Why? Because you’re more certain to die eventually, but you’ll never be sure when you’ll suddenly get seriously ill. But even if this is more of a personal choice, it is safe to say that everyone needs this type of insurance since everyone has a chance of getting seriously ill.

Finding the right insurance plans to help your family handle medical emergencies and prepare for the future can be difficult and confusing. The good news is that you’re not alone. At Critical Illness Policies, we can help you explore your best options and tailor a plan to meet your needs. Call us now at 1-561-210-5822, and speak to our experienced and helpful agents to get the answers you deserve.