How Do Critical Illness Plans Work?

The effects of an incapacitating condition could be devastating. While medical bills start to pile up, you would still have to pay rent, mortgage, and utility bills.

Many insurance companies offer to ease the blow to families who are affected by a critical illness.

A critical illness insurance is a lump sum paid directly to the policyholder. The best part is that the beneficiary can spend it in any way he or she deems necessary, and it is 100% tax free.

The costs can vary, but they certainly offer the best safety net there is for critical conditions.

Let Key Health help you find the best options based on your medical history and your financial situation.

Conditions Covered

There are many conditions that can be covered by this kind of insurance. Most of them are life threatening. Critical Illness insurance is a safety net that can save your life when you least expect it.

Get coverage for the following conditions:

• Heart attack
• Stroke
• Organ transplant
• Heart transplant
• Kidney failure
• Cancer
• Coronary bypass surgery
• Organ transplant
• Paralysis

Consult one of our agents and we will find the broadest coverage for a really fair price.

How Many Insurance Types Are There?

We offer total flexibility when it comes to Critical Illness Insurance. Depending on your age, preexisting conditions and long term payment options, you can choose the reach of your insurance.

Simplified Issue Individual: The most affordable type of plan. Not many questions about your health are done. Ideal for amounts up to $50.000. Great for young adults.

Fully Underwritten Individual: Offer a far greater protection. Full medical examination might be required before purchase. Can be purchased through your employer.
You can also get Increasing or Decreasing coverage.

Increasing Cover: Every year, the coverage is recalculated to protect you from the effects of inflation. Premiums are also subject to increase.

Decreasing Cover: It helps you pay debt that decreases over time. Premium remains the same.

Key Health will walk you through all of these options helping you make the best and most informed decision for your future.

Insurance Endorsement

If you already have a life insurance, you can extend its coverage or add amendments to your insurance contract by means of a rider.

It is a good idea to add a Critical Illness coverage clause to your life insurance contract. It allows you to add new conditions to receive a lump sum without the need to celebrate a new contract.

Get the best advice by speaking to one of our insurance experts at Key Health. You must be informed of all of the implications of your extended coverage, and what conditions might be imposed by insurance companies.