Medical insurance is one of the most important types of insurance a person can have anymore.
Hospital and medical treatment cost continue to rise, making it almost impossible to survive financially without insurance of some kind.
And nowadays our health insurance isn't always enough either.
The deductibles seem to get higher each year along with the out-of-pocket expense.
Because of these facts, supplemental insurance plans and critical illness insurance has become a way for families to have some extra protection.
Extra protection is now needed more than ever to help pay these rising cost.
A critical illness could be cancer, or some other debilitating disease that may strike you or a family member.
As much as people don't like to think of this possibility, it can happen.
Critical illness insurance can help you pay for the cost and care of special treatments, recuperation aids, or even lost income due to being off work.
Worrying about bills makes it harder to concentrate on getting well.
Some of these critical illness plans pay the providers directly, and some pay a lump sum to the policy holder.
This lump sum is received no matter what your health insurance pays.
It is your to do with however you see fit.
Occasionally employers may even take out critical illness insurance for their employees.
When this happens it is done as a group contract and every employee can benefit from it.
Individual critical illness insurance is processed a lot like life insurance.
The underwriting process is very similar because the underwriters take factors such as past medical history, smoking status, weight, and other things into consideration.
If you have already had cancer, or some other disease in the past, it will probably be excluded from the policy.
The good news is that people are living longer today and starting to take better care of their health.
However some diseases are hereditary, or just happen for reasons that no one knows.
Be prepared if something like this should happen by carrying critical illness insurance for you and your family.
Before purchasing your policy be sure and examine the waiting period.
Some times this is referred to as the elimination period.
This is the amount of time you must wait, after you receive a diagnosis, before you can receive the insurance payment.
Once you know all the facts, you can select the policy that fits your needs the best.
Hospital and medical treatment cost continue to rise, making it almost impossible to survive financially without insurance of some kind.
And nowadays our health insurance isn't always enough either.
The deductibles seem to get higher each year along with the out-of-pocket expense.
Because of these facts, supplemental insurance plans and critical illness insurance has become a way for families to have some extra protection.
Extra protection is now needed more than ever to help pay these rising cost.
A critical illness could be cancer, or some other debilitating disease that may strike you or a family member.
As much as people don't like to think of this possibility, it can happen.
Critical illness insurance can help you pay for the cost and care of special treatments, recuperation aids, or even lost income due to being off work.
Worrying about bills makes it harder to concentrate on getting well.
Some of these critical illness plans pay the providers directly, and some pay a lump sum to the policy holder.
This lump sum is received no matter what your health insurance pays.
It is your to do with however you see fit.
Occasionally employers may even take out critical illness insurance for their employees.
When this happens it is done as a group contract and every employee can benefit from it.
Individual critical illness insurance is processed a lot like life insurance.
The underwriting process is very similar because the underwriters take factors such as past medical history, smoking status, weight, and other things into consideration.
If you have already had cancer, or some other disease in the past, it will probably be excluded from the policy.
The good news is that people are living longer today and starting to take better care of their health.
However some diseases are hereditary, or just happen for reasons that no one knows.
Be prepared if something like this should happen by carrying critical illness insurance for you and your family.
Before purchasing your policy be sure and examine the waiting period.
Some times this is referred to as the elimination period.
This is the amount of time you must wait, after you receive a diagnosis, before you can receive the insurance payment.
Once you know all the facts, you can select the policy that fits your needs the best.
Source...