Features & Benefits Of Critical Illness Insurance

Critical illness insurance is an insurance policy in which the policyholder receives an amount in lump sum stipulated in the contract in specific circumstances wherein the insured has been diagnosed with a severe disease that is specified on the insurance policy.

Life Insurance policies are offering Critical Illness riders that provide anywhere between $5,000 and $100,000 upon the first detection of a critical illness. Certain life insurance riders can provide this amount up to 3 times the amount over the course of the policy.

It's generally less expensive to purchase a critical illness rider for an insurance term life policy than if you buy a stand-alone critical illness insurance policy. If you purchase the policy, you will receive the additional death benefit from life insurance in addition to tax-free benefits to the beneficiaries.

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The most common diseases for which this policy will cover may differ between insurance companies one another. The four primary illnesses that are covered by this policy were first defined in 1983. They are specifically coronary artery bypass surgery cancer, heart attack , and stroke.

The amount of diseases or ailments covered under the critical illness insurance program is always changing, in addition to the quantity that is offered for a specific condition may change at times depending on the type of diagnostic tests being conducted and the treatment options available to treat the illness.