Critical illness insurance pays a lump-sum benefit upon the first confirmed diagnosis of a covered condition like heart attack, stroke, cancer, or HIV/AIDS. Coverage details vary by plan, and it can be purchased on its own or as a rider to a life insurance policy, often complementing your existing health or disability coverage.
Critical Illness Insurance
Do you know someone who has had cancer, a heart attack, or a stroke? Chances are, you do.
Here’s how common these serious illnesses are in the U.S.:
- Every 34 seconds, someone has a heart event
- Every 24 seconds, someone is diagnosed with cancer
- Every 40 seconds, someone suffers a stroke
The good news: Many people survive these illnesses. Survival rates include:
- Stroke: 75%
- Breast cancer: 89%
- Prostate cancer: 98%
- Skin cancer (melanoma): 91%
Why health insurance isn’t enough:
- The average out-of-pocket cost for a critical illness is about $7,575.
- A heart attack can cost around $14,000, a stroke about $17,000.
- Health insurance doesn’t cover lost income while you’re unable to work.
- It won’t pay your mortgage or cover everyday expenses.
Nearly two-thirds of bankruptcies are linked to medical bills — even though 78% of those filing had health insurance. Critical illness insurance helps protect you and your family by providing a cash benefit if you face a serious illness. It’s a smart way to prepare for the unexpected.
What Does Critical Illness Insurance Cover?
Critical illness insurance provides a lump-sum payment if you’re diagnosed with a serious medical condition covered by your policy. This financial safety net can help you focus on recovery — not bills — during some of life’s most difficult moments.
Most plans pay out upon diagnosis of the following conditions:
Heart Attack: One of the most common claims, this benefit supports recovery time, lost income, and post-hospitalization care.
Cancer: Includes many forms of cancer requiring extensive treatment like chemotherapy, radiation, or surgery.
Stroke: Covers neurological impairment resulting from a stroke, including rehabilitation support.
Coma: A prolonged state of unconsciousness due to accident or illness, often requiring long-term medical care.
Permanent Paralysis: Due to a covered accident or illness that results in the permanent loss of limb or motor function.
Major Organ Transplant: Covers procedures such as heart, liver, lung, or kidney transplants and related recovery expenses.
Coronary Artery Bypass Surgery: Includes coverage for surgical repair of arteries to restore heart blood flow.
Loss of Sight, Speech, or Hearing: Permanent impairment or complete loss due to illness or injury.
What If You’re Healthy and Plan On Staying That Way?
How many people plan on getting cancer or having a heart attack? No one does. And while none of us want to think about any of this, the reality is startling when you look at the numbers above.
Call us at (800) 442-9899 to learn more about protecting yourself, your assets and your family with critical illness insurance coverage.
Protect Yourself from the Unexpected
