Real answers for your healthcare questions
What is critical illness insurance and how does it work?
Answer
Critical illness insurance is supplemental coverage that can pay a lump sum or fixed benefit after a covered diagnosis, such as certain cancers, heart attacks, or strokes. The money can generally be used for medical or non medical expenses, depending on the policy.
What to Know
Coverage depends on the policy's exact definitions and may include waiting periods, exclusions, survival periods, or limits on repeat diagnoses. It does not replace major medical coverage and does not pay for every serious illness.
What to Do Next
Read the covered condition definitions and exclusions carefully. Consider whether the potential benefit would fill a real financial gap that your health insurance, disability coverage, savings, or other benefits do not already address.
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