Being stricken with a critical illness is something all of us hope to avoid. Unfortunately, serious illnesses do happen and can not only disrupt our lives but can cause major financial hardship as well. If you are concerned about what could happen if you were diagnosed with a serious medical condition, you may want to learn about critical illness life insurance.
To find out about what life insurance with critical illness covers, how it works and why it might be right for you, contact an independent agent in the Trusted Choice® network who specializes in life and health insurance. These agents work with many life insurance companies so they can help you compare which coverage suits you best.
Here are a few important facts about some of the most critical illnesses that commonly afflict Americans:
A critical illness can be defined as any illness which is “life threatening.” These insurance policies can provide coverage in the form of a lump sum payment in the event that you are diagnosed with specific diseases considered life threatening, such as cancer, heart disease, diabetes, stroke, kidney failure or Alzheimer’s disease.
Critical life insurance is offered by many insurers to provide you with compensation after you have been diagnosed with a critical illness. The specific coverage is outlined in each specific policy. If you have a specific personal risk you are concerned about, you can contact an independent agent to ask whether critical illness insurance can provide financial protection specifically for that concern.
If you are concerned about critical illness, it’s natural to be worried about your future and how you will be able to cope financially. You may also be anxious about the welfare of your family and how to continue to take care of them and pay for your medical expenses. Your life expectancy can also be a very important reason to buy this coverage.
Some of the things people need help with when they are diagnosed with a critical illness include:
Talk with an agent in the Trusted Choice network to find coverage for these items in a life insurance policy for critical illness.
Critical illness life insurance coverage depends on a variety of factors that can vary from one insurance company to another. Each illness may have particular restrictions, limitations or requirements for coverage.
Here are a few things to know:
Because a critical illness can vary depending on the type of illness, treatment, and your current health circumstances, it can be a challenge to obtain this coverage. An independent agent can help you to navigate the process of finding the most appropriate plan for your needs and budget and completing the application.
The insurance company will need an assortment of medical information to process your application. A representative may interview you by phone, require a medical exam from your personal care physician, or send a nurse practitioner to your home to take your vitals and complete a questionnaire.
Some of the key factors that the insurer may look at include:
Each insurance company will have its own requirements for assessing your risk of contracting a severe illness. Essentially, insurance companies will take on a certain amount of risk, but will not cover a current or imminent critical illness when there is near certainty that you will file a claim.
Critical illness life insurance is a complicated topic and you may have complex questions about what is involved in getting this coverage, and whether it is worth it. You may even have been turned down after applying directly to an insurance company and are not sure whether you should pursue additional options.
To get answers to your questions, talk with an independent agent in the Trusted Choice network; you will get the personal assistance you need to determine if critical illness insurance is right for you.
Independent agents have access to many insurance companies, so they can shop for hard-to-find policies and advocate for you with the insurance companies they work with. Contact a local member agent today to compare critical illness life insurance quotes and options.