Critical Illness Insurance Quotes

Why Do I Need an Affordable Critical Illness Insurance?

You may ask why do you need affordable critical illness insurance when you already have a health insurance? Americans have longer life expectancy. The discovery of new medication is making people live longer and survival rates are on the rise for many medical conditions. However, the treatment for major or critical illness can be very expensive and may yield to loss of income and to medical bankruptcy.

American Cancer Society and the Kaiser Family Foundation found 20 to 25% percent of people with health insurance still have problems paying for cancer therapy. The cost for that a year of treatment for blood cancers such as leukemia can be as high as one million dollars in 2008, which would max out the limits of most health insurance policies, however the new ACA (Affordable Care Act) has no limits on new policies issued after September 23 2010.

Even with the new health insurance policy on your side, if you are diagnosed with a life-threatening illness like cancer, suffer a heart attack and stroke there is a possibility that you would not be able to afford the recommended treatments, paying your monthly bills and other needed non covered necessary expenses. However, affordable critical illness insurance quotes can help you resolve this dilemma.

What does Critical Illness Insurance cover?

The affordable critical illness insurance provides a lump sum amount of tax-free cash to be used, as you desire. The check is issued in your name as soon as you are first diagnosed with the covered illness that is covered under the policy contract. You do not have to be disabled to collect this fund. Unlike disability insurance, you do not have to be employed to receive the benefits. For example, Guaranteed Trust Life offers an individual critical illness policy for residents of most states that pay $10,000 to $250,000 with no medical exam. If you develop a condition that is covered, they will issue a check for the covered amount within a short period of time.

The insurance company will make a critical illness insurance payment in a lump sum and can be spent however you please — use the money for non covered medical bills, a wheelchair, changes you are making in your home for your convenience, mortgage or other bills, home health care or even a vacation to your favorite destinations.

There will be no exam for critical illness insurance limits that typically run from $10,000 to $250,000. Anything over these amounts will require an exam.

When buying an individual policy for up to $250,000, you will likely have a phone interview from the insurer's underwriting department and no blood test or exam are required. How ever applications over $ 250,000 will require a paramedic exam and a blood test as well as urine tests. What are you waiting for? Get yourself an affordable critical illness insurance that will largely help you in your battle against serious sickness.