Do You Need Critical Illness Insurance?

June 6, 2024

Nobody likes to think about their health failing, especially as health care costs continue to rise.

A large number of Americans would find it hard to pay for unexpected medical expenses. Fortunately, there are options that can help bridge the gap.

Critical illness insurance plans pay a lump sum cash benefit if you are diagnosed with cancer or another serious illness. You can use it however you like. For example, many use it on medical expenses, mortgage payments, car payments, child care costs or any other household expense that might be impacted due to your illness.

A critical illness plan does not replace your primary health insurance. As a supplement, it helps cover some of the costs associated with certain health issues, such as:

  • Heart attack
  • Cancer
  • Coronary artery bypass
  • Stroke
  • Angioplasty
  • Major organ failure
  • Coma
  • Paralysis
  • End-stage renal disease
  • Severe burn

The plans will vary, but some offer benefits for more than one category of illness. You should also be aware of the limitations of the policy, such as waiting periods and pre-existing conditions.

Do I need critical illness insurance?

With modern medicine, the odds may be in your favor when it comes to surviving a critical illness. However, your finances may not recover as well, leading to a host of new issues to handle long after you are well again.

Obtaining supplemental critical illness coverage does more than just add an extra layer of financial protection. It provides peace of mind. Such insurance can be especially beneficial as you age.

A specialist at UROne Benefits™ can help guide you in the right direction. Contact us here or at 800-722-7331.