You Think You Don’t Need Critical Illness Insurance?

Sep 17 07:08 2008 Tom Heath Print This Article


If you ever contract a critical illness or condition such as cancer,Guest Posting heart attack or stroke and survive for thirty days or more, you will need critical illness insurance. With just a few exceptions, all that is required is that you survive for thirty days after the date of the diagnosis and a tax-free lump sum of money will be paid to you.

Critical illness affects many people all around the world. Critical illness insurance plays an important role in the lives of people today. Reports indicate that the amount of people applying for critical illness insurance continues to increase, as does the rate of critical illness.

Close to 1.5 million people in the United States will contract some form of cancer this year. One out of two Canadians under the age of 65 will have a heart attack. An estimated 850,000 people in the United Kingdom will suffer from some form of Dementia within the next two years.

The upside is that there are 9.8 million cancer survivors in the United States. 95% of victims of heart attacks survive an initial attack. Leaps and bounds are being made in Alzheimer's disease research. Therefore, surviving for thirty days or longer after a diagnosis is definitely a strong possibility.

However, even though more and more people are surviving a critical illness for months after their diagnosis, they may not be able to function to their full capacity for the entirety of their survival. The money that comes from critical illness insurance would help in times when you cannot perform daily tasks and require care from a nurse, or if you cannot go back to your job. You may be confined to a wheelchair and require ramps to be built at your home. You may need a hospital bed, oxygen tanks, a heart monitor or some other type of medical equipment. If you seek treatment that requires you to leave the country, critical illness insurance can assist with these expenses as well.

Some renowned critical illness insurance companies are Trustmark, Stonebridge and Assurity Life. Remember that not one company will be the best choice for every individual. Some companies offer coverage to particular clients like children, businesses, elderly, family or self-employed individuals. Discount rates are available from most companies for military personnel, multiple policyholders or clients with exceptional health.

Do not make the mistake of just picking the first critical illness insurance company that comes along with a rate that you can afford. Take the extra time to shop around, it will prove to be worth your while. Do adequate research to in the beginning to save money for years to come instead of paying for an overpriced critical illness insurance policy.

Critical illness insurance is not best in all cases. Several individuals would do better to purchase a simple life insurance policy. However, it does not matter if you seek life insurance or critical illness insurance; you should never pay more than you have to for coverage you want. Save money by closely comparing the quotes from several different insurance coverage providers.

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Tom Heath
Tom Heath


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