Critical Illness

Critical Illness Insurance is a way to manage the financial issues after a life-threatening illness strikes. A life threatening illness that is considered a critical illness are such illnesses as heart attacks, strokes, invasive cancers, major organ transplants, end-stage renal diseases, advanced Alzheimers disease, major burns, paralysis, comas, aortic surgeries, benign brain tumors, blindness, deafness, heart valve replacements, loss of limbs, accidental loss of speech, motor neuron disease, occupational HIV infections, Cancer-in-situ, coronary bypass surgeries and angioplasty.


Now, because of the advances in medical technology, patients will most likely survive a critical illness. At the same time, the medical profession has watched as new procedures have saved the lives of countless patients who suffered critical illnesses, but saw these same lives devastated by the financial impact caused by the sickness. Many persons with these illnesses are not able to recover from the financial burden. As a result, survivors go into dept and in many cases lose their house, savings and possessions accumulated over many years to pay medical costs.

A critical illness policy pays a lump sum (that may be income tax-free) upon the first confirmed diagnosis of a covered illness or medical procedure. Additionally, if you collect the benefit for an illness or procedure in one category, this policy will pay the full benefit again. Once the money is paid out, the money may be used to pay bills or just peace of mind. Below are possible uses for a critical illness payout:

Possible Uses: