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Q:
Does Critical Illness Insurance pay in addition to other insurance, such
as disability income?
A: Yes Critical Illness benefits are paid in addition to other
benefits, it is not intended to replace them. Disability insurance plans
typically pay you 60% of your salary, for the period of time that
you are unable to perform your work. Most other policies, disability
and health included, do not pay for non-medically related costs such as
home health care or child care expenses. Critical Illness insurance gives
you options not available with disability insurance.
Q: Which Critical Illness product is best for me?
A: The are several types of Critical Illness products, including
some that offer only critical illness coverage and some that combine critical
illness coverage with death benefits and/or cash build-up. To help determine
which Critical Illness product is best for you, click
here to have a Critical Illness product specialist contact you
directly.
Q: I already have cancer insurance, why would I want critical
illness coverage?
A: Great, but only cancer is covered under this policy. Critical
Illness Insurance provides cash benefits when you suffer from
many different types serious illness, including cancer. Many cancer
policies pay a limited benefit based upon the treatment or services, there
are many expenses incurred not due to the treatment . For example,
transportation to a treatment center, loss of income for the healthy spouse
due to time off work, child care etc., these expenses are not covered.
Also, experimental treatments are not covered by many cancer policies.
Critical illness benefits are paid directly to you to use as you see fit.
Q: I may never need it.
A: That is true of all insurance. Why would you risk
your quality of life on the possibility that you could be mistaken? On
many policies there is a refund of premiums at a certain age or if you
die all premiums are refunded to your beneficiary,
in this way you or your beneficiary will benefit from the unused policy.
Q: I am a homemaker. Because I don't have a traditional "job,".
Can I purchase Critical Illness coverage?
A: As a homemaker you can purchase Critical Illness
coverage. The same goes for many other "jobs" that disability coverage
is not available to.
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