What You  Should Know About Critical Illness Insurance

Most people are not adequately prepared to face a critical illness, physically, mentally, and financially. Despite having good medical coverage, critical illnesses can amount to huge bills that many are not prepared to pay. Fortunately, critical illness insurance lessens the burden of increased out-of-pocket expenses so that you can focus on recovery instead of finances. Here is what you should know about this coverage.

What is critical illness insurance?

The survival rate of many formerly fatal conditions like cancer and stroke are climbing steadily. As a result, people are unprepared for the costs associated while recovering. Health insurance plays a large role in covering medical expenses, but they often come with high deductibles and are unable to cover living expenses while ill. The purpose of critical illness insurance is to help supplement the benefits of traditional medical coverage and address the financial consequences of certain covered conditions.

Which critical illnesses are covered?

Illnesses which can be fatal are considered as critical illnesses. Typical illnesses that are covered are:

  • Heart attack
  • Kidney failure
  • Stroke
  • Certain cancers
  • Alzheimer’s Disease
  • Major organ transplant

What expenses does critical illness cover?

Most critical illness policies allow you to spend the proceeds at your own discretion. You can use the benefits to pay for mortgage payments, food, school tuition, and more.

Purchasing critical illness insurance coverage is a great way to protect yourself and your family from financial strain. The team at Kneller Agency is here to help with all of your critical illness insurance needs. Contact us today! We serve Chatham, Copake, Valatie, Tilden Place, and neighboring cities of New York.

Comments are closed.