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Critical Care

Critical Care Insurance

Critical care insurance is an established and popular program throughout Europe and Canada. Although many developed nations have universal health care, their coverage doesn’t cover everything. That is where critical care insurance becomes an important supplement and provides policyholder with additional financial help if they are ever diagnosed with a covered illness.

Critical care insurance, also known as critical illness insurance, is not health insurance… at least in the traditional sense. Your basic health insurance helps to pay for your hospital and medical bills. Usually, health insurance only pays a portion of your bills, requiring most policyholders to pay for deductibles, co-insurance, co-payments and other non-medical expenses.

Critical care insurance doesn’t put limitations on what the benefits are used to pay. Instead, critical care insurance gives you a lump sum if you are diagnosed with a major illness. You can use these funds to pay your mortgage loan payments, utility bills, car loan payments and other living expenses.

Because critical illnesses can often prevent patients from working and earning a living, this value of critical care insurance is obvious. Health insurance will not help you pay your regular bills, just your medical expenses (and only some of it). Critical care insurance is the perfect complement to health insurance, because it can cover the other expenses (and loss of income) that health insurance doesn’t cover.

As long as you are diagnosed with a covered disease or illness, your critical care policy will provide you with a lump sum check. You’re then free to use those payments for whatever you want and need.

Many critical care insurance policies do have a survival period, during which the insurance policy holder must wait for before he or she becomes eligible for insurance coverage. This survival period may be as short as a few days or a couple of months.

Critical care insurance policyholders may also be able to receive additional benefits from the insurance company. These benefits include return of premiums if the insurance policy is never used or enabling the insurance policy holder to be able to pay for the whole policy in a shorter span of time.

Pre-existing conditions are Okay!

Critical care insurance will not immediately reject you if you have already received treatment for an illness in the past. As long as the treatments have been successful, you can obtain critical care insurance to help with future occurrence of that illness.

However, please note that some critical care insurance policies may not cover some illnesses, such as HIV/AIDS. You may check which insurance companies have more extensive coverage and benefits sets. The usual illnesses which are covered include heart attacks, kidney failure and stroke. You may also get coverage for organ transplant, severe burns and paralysis.

When you purchase a critical care insurance coverage, you will often have the option to add riders that will enable you to have additional benefits with your insurance. For example, you may choose to have a paid-up rider or a return of premium rider.

You have to be able to determine how much you would need for a critical care insurance coverage. This is highly important before you even purchase your policy. You may consult insurance agents about their offers and be able to determine how much you would need for your coverage. Also, make sure that you deal only with credible companies with excellent services and a secure position in the business.

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.