Insurance is generally not considered an investment but there are situations where coverage, such as a critical illness plan makes good financial sense.
If you have a good major medical plan, the direct care and treatment plan is usually a covered expense. But you will have deductibles, coinsurance and copay that must be paid out of pocket. A critical illness plan can help.
Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
Critical illness is not an investment, but insurance, a part of defensive financial planning. Is it worth the premiums to supplement your medical insurance plan? It depends. Critical illness insurance should be a consideration if your family has genetic predisposition to disease, chronic conditions and/or a history of hospitalization.
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If you have a good major medical plan, the direct care and treatment plan is usually a covered expense. But you will have deductibles, coinsurance and copay that must be paid out of pocket. A critical illness plan can help.