Critical Illness Insurance- Everything You should Know about it.

Insurance broker

Critical Illness Insurance isn’t just your ordinary insurance policy. This special type of insurance provides security financially for serious medical emergencies. As you know, everyone is different, living in unique situations, and each policy is different so it can benefit the policy holder. To get Critical Illness Insurance you need to know several factors which will be taken into consideration. Your family’s medical history, the health of policy holder, your sex and age, as well as the extent of the policy’s coverage are all part of creating a one-of-a-kind Critical Illness Insurance policy. Those factors are common for many other policies, so don’t worry. Let’s look into Critical Illness Insurance and see if it is for you.

Critical Illness Insurance Uses

With Critical Illness Insurance, medical treatments that aren’t covered by OHIP, and services that aren’t usually available, are accessible. Most employment policies are helpful, but they only go so far.

This insurance helps with everyday living costs so those who are ill can concentrate on healing and getting better, Transportation to and from treatments, installing chair lifts, and making vehicles more accessible is also covered. People with Critical Illness Insurance can use the funds to take much needed vacations, or spend more time at home with family. The coverage is helpful when dealing with a terminal illness. Child care is also covered with Critical Illness Insurance.

This policy is flexible, so you can use funds in whatever way you wish. You won’t have to worry if you get seriously sick and become unable to work. The funds are available in a lump sum which helps manage any serious financial responsibilities immediately.

What Is Covered?

Some examples of what Critical Illness Insurance covers:

• Cancer
• Heart Attack, Heart Surgeries
• Organ Transplants

Note: Read over your policy to see what is covered in your situation. Although this type of policy is low cost, it does have limitations. For some policies, not all cancers or chronic illnesses are covered. If you have a returning illness, it may not be covered.

The more illnesses you add to your coverage, the more premiums you will pay. Some policies have a “minimum survival period,” where the policy holder need to survive for a stated number of days after being diagnosed with the illness, before the funds are made available.

It’s always a good practice to look over all your options and the details of your insurance policy. If you decide a Critical Illness Insurance policy is right for you, but can’t make up your mind if it should be a lone policy, keep in mind you can add Critical Illness Insurance to any existing policy. It can save you money. Discuss Critical Illness Insurance with your broker, who will be able to guide you to the right policy choice.