Is It Possible to Get Critical Illness Life Insurance?

Being stricken with a critical illness is something all of us hope to avoid. Unfortunately, serious illnesses do happen and can not only disrupt our lives but can cause major financial hardship as well. If you are concerned about what could happen if you were diagnosed with a serious medical condition, you may want to learn about critical illness life insurance.

To find out about what life insurance with critical illness covers, how it works and why it might be right for you, contact one of our independent agents today who specializes in life and health insurance. Our agents work with many life insurance companies so they can help you compare which coverage suits you best.

Here are a few important facts about some of the most critical illnesses that commonly afflict Americans:

•Heart disease: The National Center for Health Statistics reports that in 2010 roughly 27.1 million Americans were diagnosed with heart disease.

•Diabetes: The Centers for Disease Control and Prevention reports that over 23.6 million people in the U.S. have diabetes. Almost another 6 million are not even aware they have it.

•Breast cancer: The National Cancer Institute approximates that breast cancer may afflict as many as 226,870 women in a given year. Almost 81% of these women will become survivors.

If you are concerned about critical illness, it’s natural to be worried about your future and how you will be able to cope financially. You may also be anxious about the welfare of your family and how to continue to take care of them and pay for your medical expenses. Your life expectancy can also be a very important reason to buy this coverage.

Some of the things people need help with when they are diagnosed with a critical illness include:

•Coverage for lost earnings from illness

•Funds to cover mortgage or rent payments and living expenses

•Funds for medical treatment and prescriptions

•Supplemental family income

•Money for expenses if you operate your own business or partnership

•Financial assistance with future expenses such as your children’s tuition

Talk with an agent in the Trusted Choice network to find coverage for these items in a life insurance policy for critical illness.

The insurance company will need an assortment of medical information to process your application. A representative may interview you by phone, require a medical exam from your personal care physician, or send a nurse practitioner to your home to take your vitals and complete a questionnaire.

Some of the key factors that the insurer may look at include:

•Your personal health history

•Your current health, including your weight and body mass index, your blood pressure and cholesterol levels

•Results of a stress test

Each insurance company will have its own requirements for assessing your risk of contracting a severe illness. Essentially, insurance companies will take on a certain amount of risk, but will not cover a current or imminent critical illness when there is near certainty that you will file a claim.