Get Critical Illness Insurance Quotes and Compare

Receiving treatment for a critical illness, such as organ damage or cancer, is different from going to the doctor for a minor ailment. The complexities of critical illness treatment necessitate a high-value insurance plan that covers all aspects of care.

Before treatment can begin, a patient must receive a diagnosis. Some critical illnesses are challenging to identify and diagnose. The patient's healthcare provider will likely recommend a series of x-rays and lab tests to evaluate their health. Doctors may also recommend precursory treatment to aid symptoms or minimize risk before proceeding to more complex treatments.

A general healthcare provider will likely recommend a patient to a specialist for their medical condition. For instance, cancer patients receive treatment from oncologists, who develop treatment plans that involve chemotherapy, radiation therapy, and immunotherapy.

A critical illness may also require surgery. For example, after experiencing a heart attack, a patient may need percutaneous coronary intervention to locate the blockage. They may also need a coronary artery bypass to restore blood flow to the heart.

Because critical illness treatments are often more involved than treatments for other conditions, critical illness insurance is separate from general health insurance.

Critical illness insurance plans are relatively straightforward, and there aren't as many options to sort through as there are with general health insurance plans. Still, you should understand the benefits available through a critical illness insurance plan before starting coverage.

The two main types of critical illness insurance are basic and comprehensive.

• Basic critical illness insurance covers a limited number of conditions and has a low compensation limit. It generally offers coverage for a specific period, such as ten years, after which time you would need to reapply for a new policy (with potentially higher premiums). Still, this coverage can prove valuable for those with little or no health insurance who experience critical illness diagnoses.
• Comprehensive critical illness insurance covers most critical illnesses with high coverage limits. This form of coverage usually lasts for the remainder of a policyholder's life (as long as they continue paying the premiums). It often contains coverage for dependents and certain non-life-threatening conditions as well.

Most policyholders "stack" their critical illness insurance with an existing health insurance policy. Critical illness insurance should not replace other forms of health insurance; instead, it can supplement low coverage limits or insufficient covered conditions.

Purchasing critical illness insurance isn’t a decision you should make alone. If you're ever diagnosed with a life-threatening illness, your entire family will be impacted. Thankfully, your insurance payout will also benefit your entire family.

As such, you’ll want to keep your family’s needs in mind when searching for the right critical illness insurance benefits. Critical illness insurance typically comes with optional riders and benefits that can increase your coverage. These riders may include:

• Extra coverage for dependents and family members
• Automatic lump sum increases each year
• Exclusions for conditions covered in your health insurance
• Wellness benefit payments for every year you schedule specific wellness screenings
• Different coverage amounts for the first, second, and third covered illness
• Coverage for hospital stays outside of covered conditions
• Additional coverage to aid illness recovery
• Waivers for waiting periods

Consider which riders make the most sense for your family's needs and financial goals, and look for providers who offer these riders and benefits.