Critical illness insurance helps cover those big emergencies that we hope to always avoid.
Health problems that come unexpectedly, such as a stroke, cancer or heart attack can turn your life upside down, not only from the health issue but also from the financial ramifications.
Having critical illness policy may provide the extra financial protection your family needs during such a life changing event.
It is a common misunderstanding that a standard health insurance policy will provide coverage, but that isn’t always correct.
Even when coverage is offered, the amounts are typically much lower than what the actual expenses amount to.
What Is Critical Illness Insurance?
Insurance brokers implemented critical illness coverage in the late 1990s, in an effort to provide Americans with more financial stability in the event of major health issues.
With Americans living longer and cancer on the rise, the realization that medical bills cause major financial burden prompted the coverage options.
It is basically an extension of coverage from your primary health insurance policy, and covers emergencies including organ transplants, heart surgery, cancer treatments, stroke and heart attacks.
The supplemental coverage can assist with grocery expenses, childcare and medical bills.
It can even be used towards investment as a way to generate new revenue for your family.
Most plans pay in lump sums that range from a few thousand to more than $90,000, depending on the extent of coverage and policy term, such as a 25-year policy.
The critical illness policies help protect you financially.
Health emergencies can happen at any age, but as life expectancies continue to increase, the likelihood of major health issues occurring also rise.
Critical illness insurance can cost as little as $25 per month, depending on the policy.
When considering coverage for critical illness, take time to evaluate your personal finances and health status.
Consider the overall health of your family, as well as your family history, since genetics sometimes play a role in health issues
Only you can decide if critical illness insurance is worth it to your family.
However, keep in mind, it certainly offers added protection for your financial future.
According to statistics, medical bills are the primary reason people file for bankruptcy.
Find Out More About Critical Illness Insurance
Esupplemental.com represents insurance carriers who are top-rated in the industry.
Because they work with a variety of insurance carriers, they can help find coverage that meets the needs of you and your family while tailoring it to fit your budget.
Contact eSupplemental.com to find out what your options are for critical illness coverage.