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What is the Survival Period?

Survival Period

The survival period is the amount of time you must survive following the diagnosis of a covered critical illness, before you will receive your lump sum benefit.

Some carriers have a waiting period, however, typically Critical illness insurance carriers have no survival period. There may however be a exclusionary or probationary period.

Exclusionary period or Probationary Period

In this case, this means what time frame from the time your policy is issued, and coverage has begun that the policy needs to be in force before the policy pays for that covered condition. This is typical in health insurance. In the past historically, carriers accepting of a pre-existing condition require that you must be on the plan before the carrier will pay out on that said condition (i.e. one year). Most carriers for critical illness start right away there are a vast amount that require 30-90 days for certain conditions such as cancer. You should check at time of underwriting by asking agent and/or checking policy or brochure.

To find out more or get a list of company information call the CI Resource Center on this site. 1-561-210-5822.