This depends on the amount of money that you have saved to cover the costs associated with the immediate needs of a critical illness. If you have funds available to cover medical expenses of a critical illness, you may not need critical illness insurance.
If you do not have the extra funds, than critical illness insurance can keep you from financial ruin.
Critical illness insurance represents an excellent, cost effective way to alleviate the added strain on one's finances if a named illness strikes. With a surprisingly high number of people being diagnosed with cancer and heart disease, for instance, having protection against these occurrences could help in several ways. As your health insurance coverage is moving to a higher deductible, the coverage can be used for deductibles and co-insurance responsibilities. In addition, with the likelihood of there being lost work time, the funds can be used for income replacement. Finally, If treatment is needed at a special clinic or facility, then having the funds to cover travel and lodging costs is important. Remember, insurance creates peace of mind!
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If you do not have the extra funds, than critical illness insurance can keep you from financial ruin.