Critical Illness

Critical Illness coverage provides a lump sum payment to the insured after 30 days of diagnosis of a serious medical condition.

There are policies available that provide coverage for major serious health related conditions, such as cancer, heart attack, and stroke. There are also policies which cover up to 25 of the most common critical illnesses.

Critical illness policies can have amazing components built into them that are very advantageous in various situations:

One of these components is the return of premium on cancellation. If you have this rider built into your policy, then after ten to fifteen years of having the policy in force, you can get every penny back that you have out into the plan.

Another perk for your beneficiary is the return of premium on death. If you have this rider on your policy, your beneficiary receives every cent you have put into the policy if you die.

If all of these riders are on your policy one of three outcomes will occur. One, if you die, your beneficiary receives all the money you have paid for the policy. Two, you get a critical illness and after 30 days of the diagnosis you receive the benefit you paid for. Three, after 10 or 15 years you have not died and you have not been diagnosed with a critical illness- you cancel the policy and get all your money back.

Reach out to us today to have your Critical Illness Insurance questions answered!