Absolutely. In fact, we hope you have health insurance. Critical Illness/Cancer Insurance policies can cover unexpected costs that wouldn’t be covered by health insurance. Critical illness policies can work in conjunction with disability policies, long term care insurance, and a number of other products. Working together with other policies, critical illness coverage can help create a safety net that allows you to manage your life, if you become seriously ill.

All of the policies we sell are guaranteed renewable as long as premiums are paid. Unless you choose to cancel it, your coverage will not be cancelled if your health status suddenly changes. Benefits may be reduced at later ages. Consult the policy and other specific product information for any limitations.

Poor health makes it harder to offer affordable policies, so check with us about your current health conditions when you apply.

The cost of your policy depends on the level of coverage you need, your health, answers to some medical history questions, and the carrier you choose. The least expensive coverage for female non-smoker can cost less than a really good cup of coffee every week. Affordability of policies like these along with the benefits they provide are what makes them so attractive.

There are exclusions to almost every policy you purchase, but they vary by company. Individuals who have family histories that involve certain conditions may be wholly excluded from purchasing the policy. Some conditions may have certain stipulations attached to them as well. For example, paralysis as defined by the Mutual of Omaha policy is when a board-certified neurologist records that you’ve had a permanent loss of movement in at least two of your limbs for no less than 180 days. Understanding the nuances and requirements of each policy before you sign up is essential.

As with most insurance types, the premiums can increase on your critical illness coverage, but they typically will not do so within the first year of coverage. If you reach a point where the premium seems too high, you can always cancel the policy. In most cases, premium increases are not based on any single factor.

That’s a good question. By telling someone important to you that you’ve purchased this policy, they can initiate the claim process for you and get you the money you deserve. Keep in mind that most of the companies have a right to initiate an independent medical exam, but don’t be alarmed at the prospect. It’s fairly common within the industry.

As with much of this information, that depends a bit on the policy you select. In most cases, heart attack, stroke, kidney failure, organ transplant, and life threatening cancers are covered at 100% of the policies maximum value. Other medical problems like coma, Parkinson’s disease, and Multiple Sclerosis may be covered, but at a lesser benefit. Be sure to take a look at which illnesses and conditions are covered by the policy of your choice before you make a final decision.

The waiting period actually has two definitions when it comes to critical illness. There’s the initial waiting period for your policy to go into effect, and that is typically thirty days, depending on which company you decide to move forward with. There’s also often an “elimination period” or “survival period” with each policy. After you receive a diagnosis, it’s possible that you may have to wait thirty to ninety days for your lump sum to come in. Should you die before that occurs, the money will be paid to your estate. Each policy has a specific policy on this, and waivers are often available for an additional fee.

Once you’re diagnosed with a covered critical illness, you’ll receive a lump sum benefit to help you pay for any of your expenses. Whether you need to use the money to cover the cost of outstanding medical bills or you simply need some money for your living expenses, you can use the lump sum to pay for most of your costs.

Critical illnesses are certainly serious, but so are the costs involved. Survival often comes at great financial cost. Not only may you have to pay for part of your treatments, but you may also have day to day living expenses that stack up because of your inability to work. Critical illness coverage pays you a lump sum to help deal with any of the expenses you may have encountered. As soon as you receive the diagnosis, you will be paid a tax free lump sum of money, and it may help you tackle the tougher days ahead.