Critical Illness Plans

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What are Critical
Illness Plans?

A critical illness plan is meant to support you when you need it the most. It is a policy that pays the insured a lump sum after a diagnosis which is covered under the plan such as heart attack, stroke, paralysis, cancer, organ transplant, or some other very serious illness. Our professional team can help you find the right plan for you.

How Critical Illness Plans work

Critical Illness Plans serve as your line of protection in case you are diagnosed with a critical illness by supplementing extra health insurance coverage to cover the higher costs associated with serious health problems. This may be as a lump sum or monthly payments, depending on the plan.

How to choose the right plan for you

We all are at risk of a serious illness, but family history and lifestyle can contribute to this. Not sure if a Critical Illness plan is right for you? If you have a history of family illness, or may require extra protection for major illnesses that can occur with age, a Critical Illness plan could be a great option for you. As well, the monthly premiums tend to be very affordable as an additional part of your health insurance coverage.

BENEFITS OF CRITICAL ILLNESS PLANS

What do Critical Illness Plans cover?

Critical Illness Plans are a popular addition to Medicare and other supplementary coverage plans. While each plan is different, there are some illnesses that are covered on most.

COVERAGE

While each plan is different, typical Critical Illness Plans cover major health events such as heart attack, cancer, organ transplant, loss of vision, loss of speech, loss of hearing, renal failure, coma, stroke or coronary bypass. Although they to be low cost compared to other supplements, which illnesses you include in your coverage will have an effect on monthly premiums in the plan. This is where professional guidance on the best plan based on your situation can be crucial.

BENEFITS

When you're sick with a critical illness, it may not be possible to contribute to the home's financial funds. This may have implications in terms of paying medical bills, but also for daily expenses. You can use the cash benefit provided by the Critical Illness Plan as you see fit, for expenses such as mortgage or rent, groceries, transportation to and from treatment, out-of-pocket medical costs, treatment from a specialist, or for prescriptions.