Critical Illness Insurance

This type of insurance provides a lump sum in the event of a critical illness. Critical Illnesses typically include Cancer, Heart Attack, or Stroke, but may also include Blindness, Paralysis, Loss of Limbs, Major Organ Surgery, Major Organ Failure, or ALS, depending on the carrier. The benefit may be used however the insured pleases, but is provided due to the occurrence of a critical illness to help pay for the costs of care and treatment, possible loss of income due to decreased ability to earn, or even to help assist with changes in quality of life or lifestyle. Policy benefit payments can range from $1,000-$500,000 depending on the insurance carrier and the benefit amount selected.