The Benefits of Having Critical Illness Insurance

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Health insurance. It’s definitely something that all of us should be concerned about, mainly because we need that kind of coverage should we fall ill, need a surgical procedure done or it’s time for an annual check-up. And although there are all types of policies that you can choose from, if you happen to be an individual who has suffered from a stroke, from cancer or any other type of critical illness, you might find it difficult to get the kind of insurance coverage that you need.

In cases like these, something that you might want to consider getting is critical illness insurance. If you’re not familiar with all of the benefits that come with obtaining this kind of policy, we’ve provided you with a few reasons why it can prove to be truly beneficial below:

You can work less. If you’re someone who has recently had a stroke or heart attack, or you’ve been recently diagnosed with an illness like cancer, you doctor may recommend that you alter your work habits so that you take some time to fully recover or so that you can keep your stress levels down. Well, thanks to having critical illness insurance, you don’t have to worry about forcing your body to work more than it needs to. That’s because you will have enough coverage to be able to either reduce your work load or possibly even go into an early retirement. We say this because cash payments can range anywhere from $10,000 to $1 million based on the type of policy that you have. Just make sure that you speak with an insurance agent about the difference between getting Simplified Issue Individual Protection and getting a Fully Underwritten Individual Plan so you can know which one would work best for you.

It can prevent you from going into debt. The amount of people who are in serious debt due to medical bills is pretty staggering. In fact, according to The American Journal of Medicine, 60 percent of personal bankruptcies that are filed are directly related to unpaid medical expenses. But when you have the protection of critical illness insurance, you can be certain that your treatments and procedures are covered so that you don’t have to worry about not being able to pay your bills.

There are several health issues that it covers. If you were to consult with someone at a company like My Insurance Broker about why you should consider purchasing some critical illness insurance , one of the things they would probably tell you is that it provides great personal assurance because it tends to cover so many different kinds of health issues. Some of them we have already mentioned like heart attacks and cancer, but there are also policies that will cover organ transplants, kidney failure, multiple sclerosis and also loss of sight and hearing too.

It can be used to cover a variety of expenses. Another great benefit that comes with having critical illness insurance is that it can be used to not just cover medical bills but other expenses like your mortgage and other things that need to be paid while you are ill or are in recovery. So as you can see, having critical illness insurance is well worth the investment. For more information on critical illness insurance, contact a reputable health insurance agent within your area.

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