Critical Illness

Critical Illness

Critical Illness insurance helps you pay for costs associated with life altering illnesses.  If you become sick with an illness covered by your CI policy and survive the waiting period, you receive a lump sum of money.

Critical illness was developed by Doctors NOT by Insurance companies

In the late 1980s Critical Illness was developed by Dr. Marius Barnard, a cardiologist from South Africa.  Dr. Barnard found many heart transplant patients were not recovering, or not recovering as well as expected after recieving treatment.  Barnard could not find any medical reason for this.  After closer examination of patient situations, Barnard came to the realization that many were in financial ruin as a result of their illnesses.  Modern medicine had saved these people, but financially they were struggling – and it was negatively affecting there health and recovery.  Dr. Barnard approached a local insurance company with his concern and played a major role in the development and design of the product we now call Critical Illness.

HOW DOES CRITICAL ILLNESS WORK?

Critical Illness insurance pays out a lump sum of tax-free money as soon as a person is diagnosed and survives the waiting period, usually 30 days.

WHAT IS COVERED UNDER THIS PLAN?

Basic coverage & Comprehensive coverage included.

I ALREADY HAVE LIFE, DISABILITY AND MEDICAL COVERAGE, WHY DO I NEED THIS?

Life insurance is essentially “death” insurance; the beneficiary receives the proceeds of the life insurance policy after a policyholder dies.  Disability insurance pays out an amount of money on a monthly bases to a disabled person while they are disabled from their job for a specific period time, i.e. $2,000 a month to age 65 etc.  Critical Illness insurance does not replace your medical insurance, but instead, it helps survivors manage the costs associated with recovery.  It can provide you with options that would otherwise not be available to you.