Critical Illness

Today, due to early detection, prevention and advances in medical treatments, the odds of surviving a life changing critical condition are better than ever. For many of us, surviving such an illness can bring serious financial and emotional hardships to yourself and family especially if that illness leads to a stay in an assisted living facility or nursing home while recuperating. Being critically ill can mean that’s it’s much harder to remain financially stable and even support your family. Things like unexpected medical bills or those that aren't covered by your insurance plan can really pile up. This can leave you feeling uneasy and stressed when you should be focusing on recovery. By purchasing critical illness insurance, you can rest easy knowing that you’ll have financial support should you get diagnosed with a critical illness or condition that’s covered by your insurance policy. 

A critical illness refers to the onset of a specific illness, disease or medical event such as a heart attack, other coronary artery diseases, cancer, bypass surgery, stroke, coma, organ transplant, alzheimers, kidney failure and others. The event itself is the trigger for a lump sum benefit payout, unlike chronic illness, where you must be unable to perform 2 of the 6 activities of daily living for benefits to be received. A number of critical illness plans are available dependent on your medical history, for example, if you currently have a specific medical condition, you would most likely be excluded from coverage for that particular event, but would be permitted to take coverage on other critical illness categories available. Just because you’ve had an incident in the past does not automatically disqualify you from coverage, if you satisfy a specified wait period for a particular event, coverage may be available to you as determined on an individual basis by an underwriter dependent on circumstances, such as what stage cancer and how long since treatment, etc.

Critical illness coverage may be a good second choice for you if you’re not eligible for traditional Long Term Care coverage due to medical underwriting exclusion.

This specialized insurance provides a lump-sum, tax-free payment should a policyholder suffer from certain specific critical conditions. The lump sum benefit can provide:

Cash to pay for medical treatments not covered by your health plan.

Cash to pay your mortgage while you are recovering.

Cash to pay bills - from car payments to insurance premiums.

Cash so you can travel for treatments not available locally.

Cash to pay for experimental treatments (not covered).

Cash to replace a spouse's income while caring for the insured

Request a quote today or Call us at 973-285-1040 to discuss the benefits of critical care coverage.