Critical illness Insurance

Critical illnesses are quite devastating to the patients and their families due to the medical costs involved in treating them. The treatment may require multiple visits to the hospital over a prolonged period, meaning that the patient will have more costs to cover. There is a high likelihood that anyone earning will have to skip work to follow up on treatment leading to a loss of monthly income. Therefore, to cover this cost, your employer or an independent individual may enroll in an insurance policy to cover the treatment.

Understanding the Insurance Coverage

Critical illness insurance is coverage provided to anyone diagnosed with specific life-threatening diseases. The policy lifts off the financial burden from the patient by covering the huge medical costs and issuing a lump sum compensation to meet other expenses that the patient may have. The insurers mainly cover three primary conditions including cancer, stroke, and heart attack. Other diseases that it may cover include paralysis, kidney failure, major organ transplant, and angioplasty among others.

Benefits and the Coverage options

Most employees may provide this coverage to help their employees seek experimental treatment, handle unexpected medical expenses not covered by their health plan, and pay their mortgage. Other benefits include payment of auto insurance premiums and other car bills, local and international treatment, and replacement for the spouse’s income. There are other forms of critical illness coverage other than the employers’ one, which may include:

• Fully underwritten individual plans- the individual insurance professionals provide the coverage of up to $500000.

• Simplified issue individual protection- they are the most affordable critical illness coverage options since they are available in amounts of up to $50000. The insurer does not require a lot of health information during application.

• Coverage provided as part of life insurance policy.


Critical illness insurance does not have a cash value, so a policyholder can only receive compensation after making a valid claim. The insured may enjoy fixed premiums for a long period although insurance companies may revise them after a certain period. Therefore, anyone without savings to help them cover an acute illness or an employee benefit package to cover the off-work time may consider getting the insurance coverage.