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Critical Illness Insurance

Critical illness coverage is extra coverage that a person can get to protect himself or herself from a series of severe conditions that may hit randomly. A person who has a critical illness policy can receive funding from the insurance policy if he or she falls ill with any of the predetermined illnesses on the insurance company’s list. The plan can pay out a lump sum of money so that the person can pay his or her bills at once, or the individual can have the policy payout like it’s a regular paycheck from a job. It’s up to the insured party how he will have his benefits issued.

Critical illness insurance is a wonderful element because it can take care of most of a person’s burdens if he falls ill suddenly with one of the illnesses on the list. It can pay for medical bills, recovery aids, treatments, household bills and anything else the insured person has to cover. It’s all about making the insured person feel comfortable.

Each insurance company may have a variation in its illness list. Some of the most common diseases and ailments that would be covered under the critical illness insurance are conditions such as kidney failure, meningitis, Parkinson’s, cancer, coma, Alzheimer’s, stroke and so on. The insurance company determines whether the person’s diagnosis is valid and acceptable before it will pay the claim, and the individual has to survive for a certain amount of days to receive the benefit, as well. Diagnosis may have to come from specialists within the field in some cases. For example, the person may have to get his diagnosis from a nephrologist for kidney failure or kidney disease for it to stand.

The way the policy works is that the insured person will pay a premium every month to have the coverage like most other policies. If the covered person receives a diagnosis, he will have to call the number and notify the insurance company. The insurance company will then want to see the diagnostic workup. This may include test results, notes from the doctor or something else.