Critical Illness Insurance Policies
While science has come a long way to improving general health care and extending life expectancy, not all illnesses are so easily preventable or affordable. Cancer, stroke, and heart attack are all expensive and life-threatening illnesses. The physical and emotional toll of any of these diagnoses is hard enough without adding the stress and worry of paying for costly treatments. That's why many people are expanding their health insurance packages to include critical illness policies.
Critical illness insurance is an added policy that covers the expenses incurred during the treatment of cancer, stroke, or heart attack. This is paid in one lump sum, and the benefits can be used in whatever way the patient requires. This can include the loss of income, experimental treatments, transportation, and living expenses.
There are a few options available for those interested in a critical illness policy. For example, you may extend coverage to include paralysis, coma, and occupational HIV. This will, of course, cause your premium to be a little more expensive.
Many employers are offering the option to add critical illness policies to their employees' health benefits packages. While the option is there, the employer will often not pay any part of the policy. The employee is usually expected to pay the whole amount of the additional coverage.
The main benefits of a critical illness policy are income, experimental coverage, and general peace of mind. As we get older, we become more prone to life-threatening illnesses. Cancer, on the other hand, waits for no one and may strike at any time. One in two American men and one in three American women will contract cancer in their lifetimes. Heart attack and stroke are less common but also come with a huge price tag and little hope. This policy guarantees that you will have some money to fall back on if you are not able to work or need to pay for transportation to treatments.
Critical illness is a scary thing, but critical illness insurance eases the burden of cost. Many people with heart disease and cancer in their families are wise to purchase this policy. Illness cannot always be avoided, but financial help is always available.