Critical Care

Critical Illness Insurance Companies

Critical Illness Insurance Critical illness insurance is medical insurance that pays a lump-sum benefit upon diagnosis of a critical illness or condition. A critical illness insurance payout helps you avoid the financial strain a major illness can create so you can focus on your recovery. It gives you the freedom to: Get the treatment you want Spend time with your family and friends Keep your home and other assets Critical Illness Insurance Pays for Expenses Other Plans Don't Other types of insurance simply aren't designed to meet the additional expenses of a serious illness or condition. They may help pay some of your hospital and doctor charges, or even replace part of your lost income. You may use your critical illness insurance to help pay for other unexpected expenses such as: Experimental treatment Travel expenses to and from treatment Out-of-network doctors and hospitals Childcare and eldercare Insurance deductibles and co-payments Consider that: Men have slightly less than a 1 in 2 lifetime risk of developing cancer, while the risk for women is a little more than 1 in 3. On average, every 45 seconds someone in the United States has a stroke. Critical illness insurance can affordably protect you and your family from these additional expenses. Plan Details Because our critical illness insurance pays you a cash benefit upon diagnosis of a covered critical illness or condition, you choose how to spend it: Make payments on your mortgage Pay medical bills Hire help for around the house Take a family vacation

Critical Illness Frequently Asked Questions

Why do I need critical illness insurance?

Advances in the medical sciences over the last few decades have allowed more people to survive catastrophic illnesses. However, survival can result in unexpected medical and associated expenses. That's why critical illness insurance has become so important. A critical illness can also present challenges that go well beyond the need for financial resources. In fact, access to assistance services—information to help you deal with your diagnosis or understand what kind of assistance you may need—may ultimately have a more significant impact on your ability to cope with and recover from a critical illness.

Critical illness insurance provides a lump-sum amount that helps give you more financial flexibility if you are diagnosed with and satisfy the survival period for any one of the critical illnesses covered by your policy.

If you did suffer a critical illness, you may benefit from having greater financial resources to:

1. Reduce your financial commitments:

• Reduce or pay off your mortgage, credit card or other debts.
• Help keep your business running.

2. Maintain your independence:

• Modify your home or vehicle to address better mobility.
• Receive assistance by hiring domestic help during recovery.
• Allow for a family member to take a leave of absence to help you recover.

3. Access cutting-edge medical services:

• In Canada, pay for drugs and treatment not covered by provincial health plans.
• Outside of Canada, pay for the timely treatment that may not be available at home, in addition to your family's travel and lodging expenses.

4. Or use the benefit any way you choose to assist in your recovery.

How does critical illness insurance work?

Critical illness insurance pays a lump-sum benefit when you are diagnosed with a covered critical illness and satisfy the survival period as defined in the policy.