Critical Illness Insurance typically covers stroke, heart attack, and some types and stages of cancer. Depending on the policy, it may also cover Multiple Sclerosis, paralysis, coronary bypass surgery, blindness, deafness, or a number of other conditions. Many pay a lump sum if you become disabled from a serious health condition or injury. You need to review each policy as every one is different.
The basic conditions that are covered by most critical illness insurance policies are stroke, heart attack and cancer. Each policy has different features, so you need to review each policy to see what it will cover. Some possibilities are MS, Parkinson's, heart bypass, organ transplant, deafness, blindness and Alzheimer's. Mild cases often do not qualify for payment, as the purpose is to compensate those who are facing a life threatening illness.
Critical illness insurance pays a lump sum upon first diagnosis of a covered condition. Those conditions do includeas mmentioned heart attack (proof of muscle damage will constitute a valid claim), cancer bith invasive and in situ or localized spot, stroke....up to 21 covered conditions.
The amount of coverage starts as low as $5,000 up to $500,000. Underwriting is simplified up to full underwriting.
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The amount of coverage starts as low as $5,000 up to $500,000. Underwriting is simplified up to full underwriting.