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Critical Illness Insurance

Should You Consider Critical Illness Insurance?

Having health insurance is a smart idea. The cost of healthcare continues to rise. Basic health insurance might not be enough to have if you have a critical illness. Critical illness insurance is coverage for people with specific illnesses.

The insurance company will have a list of illnesses covered by this policy. If you develop one of these illnesses, the insurance company will pay you a benefit. But you must have a policy before you become ill.

People with severe health problems might consider this type of policy. The problems can develop gradually or suddenly appear. Elderly people and those born with certain disorders might also consider this policy. If you are at risk for developing a critical illness, then you might consider this policy as well.

The insurance company will decide if you are eligible for this policy. They will review your medical history. They will also consider your age, current health, weight and habits. The insurance company can refuse to give you a policy. Some plans are renewed every 10 years and others provide lifetime coverage.

Critical illness insurance can be beneficial if you become critically ill. It is worth considering if you are at high risk for certain diseases.