Critical Illness Insurance

Critical illness insurance is insurance that pays once you’re diagnosed with a critical illness. The definition of critical illness can vary by the insurance company. You should understand exactly what your policy covers, and which illnesses are included. One company might say you are critically ill if you are going to die within one year. One company might say you are critically ill if you are confined to a hospital bed.

This insurance can pay medical expenses when you have an illness that is covered by the policy. The thing is you must have this policy before you get sick. The insurance company will not insure you if you are already critically ill. This type of policy usually covers cancer, stroke, heart problems, and organ transplants.