Critical Illness Plans:Critical Illness

Critical Illness Insurance (CI) coverage is a policy type that typically will pay benefits to an insured party if the insured is diagnosed with one of the specific illnesses covered by the insurance policy. The benefits paid under a CI policy are most often paid as a lump sum benefit following diagnosis for a covered illness.  Alternatively, benefits under some policies may be structured as an income stream paid over time, or paid-out as medical procedures are undergone for the treatment of the illness. Many CI policies require that the insured survive for a minimum amount of time following the initial diagnosis.

Critical Illness Treatment


Features of Critical Illness Plans:

Multiple Benefits: Refers to a Critical Illness plan that will pay for more than one diagnosis of illness over the life of the policy. More often than not, this must be different illnesses, and will exclude multiple diagnoses of the same illness.

Recurrence Benefit: Most Critical Illness plans will pay out only once in the event of a specific diagnosis, however some plans may include recurrence benefits which may pay out benefits more than once if a policy is kept in force, and a second diagnosis of the initial illness occurs. Typically recurrence benefits will only be eligible if the initial diagnosis is treated successfully and a period of time elapses between the initial bout with the illness and the recurrence.


Call and speak to a Licensed Agent to learn more about Critical Illness Insurance:  1-866-922-5796

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