But in the event of a big health emergency, such as cancer, heart attack or stroke, critical illness insurance could be the only thing protecting you from financial ruin. Read on to learn more about critical illness insurance and whether it's something you and your family should consider. As the average life expectancy in the United States continues to increase, insurance brokers are finding ways to make sure Americans can afford the privilege of getting older. Critical illness insurance was developed in , as people realized that surviving a heart attack or stroke could leave a patient with insurmountable medical bills.
Understanding Critical Illness Plans: How Different Types Of CI Plans Work
What is Critical Illness Insurance Plan and Why Do You Need it?
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About Critical Illness Insurance
What is critical illness insurance? A critical illness health insurance is a benefit cover that pays the insured in a lump sum on diagnosis of a critical illness as specified in the policy document. One can use this lump sum amount to meet the treatment expenses, pay off debt, replace lost income, or make the necessary lifestyle changes for recovery if any.
The NCFlex Critical Illness Plan complements your existing medical coverage by paying a lump-sum payment directly to the employee for covered conditions. The plan covers the following medical conditions:. Employees pay full cost for employee coverage in addition to any dependent coverage selected.