AmeriFed Insurance & Financial Services Blog
If you rarely encountered the term and concept of critical illness insurance before, you should consider yourself fortunate enough to not deal with it. Nonetheless, this insurance policy helps individuals in the event of a significant health emergency such as stroke, cancer, or heart attack as it helps to secure your financial state. Learn more about this type of insurance with this ultimate guide.
What Exactly is Critical Illness Insurance?
Critical illness insurance is designed to cover the expenses of a tax-free lump sum in case you’re diagnosed with a covered particular medical condition or injury that’s stated in your policy. Having this insurance policy guarantees that you won’t have to stress your financial capacity when a severe health issue comes.
Why Is It Significant?
There are ways to save a significant amount of cash when you opt for a critical illness insurance policy. You can either get it through your own application or ride with your employer. You can also add it to an existing life insurance plan if you already have one. Here is the list that makes critical illness insurance so beneficial:
What Illnesses are Covered?
It’s important to note that covered illnesses will depend on your agreement with the insurer. That’s why it’s critical to assess your policy’s contents before opting in for a premium. The list below are some of the illnesses you can include in your policy:
Are You Eligible After Being Diagnosed?
In applying for a critical illness insurance policy, one of the first things your insurer will ask is to present your medical history. Make sure to inform them if you have a pre-existing medical issue before applying to your desired plan. While having an illness prior won’t necessarily mean the insurer will deny you, it’s still up to them to decide if they deemed your condition too complicated before deciding if they’ll accept your application.
Medical expenses have been a common reason why individuals file for bankruptcy and having insurance will provide you the needed security if you struggle with health issues. Critical illness insurance is one of the most comprehensive medical-related safety nets you can get when the time comes that you’re too ill to attend to work.
At AmeriFed Insurance & Financial Services, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (813) 848-9787 or Click Here to request a free quote.