Critical Illness insurance comes in many forms, most include a lump sum payout if you're ever diagnosed with a heart attack, cancer, or stroke, and possibly a percentage of the maximum benefit amount for other illnesses listed. Others maybe a term insurance plan with a critical illness rider that pays the death benefit if you're ever diagnosed with a critical illness listed in the policy. The benefit of having this type of coverage will help ease the burden of having large unexpected out of pocket cost associated with a critical illness. It works well with existing coverage, and you can use the money as you see fit. Also, with critical illness insurance in some cases there's riders that can be added to enhance your coverage like accidental death, wellness, ambulance, and return of premium, etc. There's a range of benefit amounts usually up to $100k, issue age up to 85, age 60 for term insurance, and medical underwriting required depending on the insurance company.
UCT's Critical Illness Insurance is an example of a critical illness plan we have available. If critical illness insurance is something you feel is a need for you and your family then contact us for a free no obligation quote today.
Kevin Oliver Insurance Agency, LLC