Critical illness insurance is provided in order to assist the policyholder in the event of some kind of serious illness, one that could easily cost thousands and thousands of dollars for treatment and other related services. A normal health insurance policy rarely provides a level of coverage for the most serious diseases that would keep the patient from potential financial ruin. A critical illness policy is designed as a smart blend of health insurance and short-term disability insurance in one package.
Critical illness insurance is a good idea for anyone who is apprehensive about being unable to afford being ill for an extended period of time. Workers who are unable to afford long durations of time off to treat their illness need the supplemental income that comes from this type of a policy. Sometimes the insurance helps people who simply need the help in dealing with the enormous and intimidating costs of major medical care.
Claims submitted to the carrier of critical illness policies are processed in a similar manner as the way traditional health claims are handled. The physician will file a claim with the insurance company and then the balance is forwarded to the consumer. One can submit a claim for long-term disability too. This is what provides compensation for lost wages when you are not able to work while in treatment for a covered illness.
Coverage for a critical illness can be designed for a specific disease or for multiple ones. There are many insurance companies that provide cancer policies that assist those stricken with cancer no matter the kind diagnosed. Some policies are implemented to cover all major illnesses that are deemed hard to treat. Speak with one our professionals to help you discover which policies likely benefit you best.
A critical illness policy is what can allow you to get through a major illness without suffering bankruptcy. This coverage is meant to complement and supplement your traditional health insurance policy. The goal is to keep your cash in your bank account.
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