The importance of Critical Illness insurance

Highlights:

  • Critical illness insurance (sometimes called catastrophic illness insurance) provides increased support for medical emergencies like heart attack, stroke, or cancer.
  • Because these illnesses often incur higher than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short.
  • These policies are relatively low cost. However, the situations they cover are limited to a few specific illnesses or emergencies

Critical illness insurance provides coverage if you experience the following medical emergencies:

  • Heart attack
  • Cancer
  • Stroke
  • Organ transplants
  • Coronary bypass
  • Organ transplant
  • Kidney failure
  • Paralysis
  • Angioplasty
  • Loss of limb(s)
  • Loss of speech
  • Parkinson’s disease
  • Severe burns
  • Multiple sclerosis

Because these illnesses require extensive medical care, their costs often quickly drain a family’s medical insurance policy. People often have a hard time paying those bills out of pocket. 

You’ve maybe never have heard of Critical illness insurance. Still, if a significant health emergency occurs, such as cancer, heart attack, or stroke, critical illness insurance can be the only thing protecting you from financial ruin.

Many people think that their standard health insurance plan protects them from costly health emergencies, but the high costs of treating life-threatening illnesses are more than policies will cover. 

An advantage of critical illness insurance is that it covers a wide variety of expenses, including:

  • Paying for critical medical services that might otherwise be unavailable.
  • Paying for treatments not covered by a traditional policy.
  • Paying for daily living expenses, enabling the critically ill to focus their time and energy on getting well instead of working to pay their bills.
  • Transportation expenses; Getting to and from treatment centers, retrofitting vehicles to carry scooters or wheelchairs, and installing lifts in homes for critically ill patients who can no longer navigate staircases.
  • Terminally ill patients, or those needing a place to recuperate, can use the funds to take a vacation with friends or family.

 

Protecting your Mortgage and Preventing Bankruptcy

The money can be used for anything. For example, use the money to pay the mortgage, pay employees at a business, or stay current on car payments, and credit card bills.

Contact a TrueCoverage insurance expert today to make the best decisions regarding health insurance for you and your family.