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Critical Illness

Critical Illness Insurance

One cannot put a price tag on good health. When one becomes ill, it is then often too late to appreciate how good it was when healthy. When sickness befalls an individual it can be difficult to fulfill even the most basic of responsibilities. When a more critical illness wreaks havoc, everything seems to fall apart around you. Massive medical bills add up and need to be paid, but income is no longer being generated because the sick person can no longer work- It is a confluence of two potentially disastrous circumstances. With critical illness insurance one can rest assured that there will be help when stricken by sickness. This kind of a policy provides financial help in the midst of these kinds of challenging life conditions.

In order to take a claim out on this kind of policy, there are certain requirements that the policyholder has to first meet. For example, a policyholder who is sick is required to basically stay alive long enough until payouts begin. 14 days is a normal waiting period in this instance. Usually there are two methods in which the payout is made. Some of these policies allow a set amount of payment over time for covered illnesses, while other kinds provide one lump sum payout.

As with any kind of policy, there are certain benefits to, in this case, purchasing a critical illness insurance policy. The covered individual can receive financial assistance with medical expenses, help with physical therapy and recuperation, lost income replacement, and money to help with various ancillary needs.

You might be in your youth and full of vim and vigor but that does not change the fact that an illness can strike at any moment, seemingly out of the proverbial blue. Should unexpected sickness or some other covered health issue come upon you, critical illness insurance is there to help with financial assistance coverage for those who have diseases such as Alzheimer’s, issues like blindness and deafness, emergency transplants, failure of the kidneys, HIV or AIDS caused by infection via a blood transfusion, and virtually any terminal illness.

If tragedy strikes and you become sick with no policy like this, it will be too late. Talk to your insurance agent to obtain this very important coverage before you actually need it.






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