Pay your mortgage, major medical premiums or deductible, or help cover other expenses that don’t stop, even when you experience a critical illness.
Most critical illness policies provide a lump sum benefit for covered illnesses depending on the severity of the condition and how long you’ve had your policy.
The following lists include common coverages and exclusions, however, you must read any policy you’re considering carefully since this is not an exhaustive list.
Coronary artery bypass
Loss of sight, speech or hearing
Major organ transplant
Self-inflicted injury or sickness
Recurrence of cancer (only the first diagnosis may be covered)
Illnesses that occur during the policy waiting period
Diagnoses related to pre-existing conditions
Procedures that are not medically necessary
Experimental or investigational procedures
Procedures not prescribed by a doctor
Injuries resulting from war or active duty military service
Injuries sustained at work, while under the influence of drugs or alcohol or while participating in a high-risk activity like bungee jumping
Are you stuck with a high deductible health plan, wondering how to pay for your deductible should you need to use your insurance?
Medical Gap can help by paying a lump sum benefit that can be used towards your HDHP deductible.Learn more
Medicare kicks in at age 65 – so what if you retire before that and lose your job-based group health benefits?
Compare options and select the best one for you.Learn more
Pay monthly premiums to maintain your insurance plan.
If you are diagnosed with a covered critical illness submit a claim to the insurance company as soon as possible.
Once the claim is accepted and processed, the benefit payment will be made directly to you.
These premiums are relatively affordable. A person in their 40’s may pay $25 to $50 a month for critical illness coverage. Premiums will also vary based on the amount of benefit selected.