Critical Illness Insurance

Critical illness insurance is medical insurance that pays a lump-sum benefit upon diagnosis* of cancer, heart attack or stroke, or a critical illness. A critical illness insurance payout helps you avoid the financial strain a major illness can create so you can focus on your recovery. It helps give you the freedom to:

• Get the treatment you want
• Spend time with your family and friends
• Keep your home and other assets

Determine Your Need
Although medical insurance and other insurance coverages you may have are essential, they won’t cover everything. Medical treatment has never been better but is also expensive. People today can experience financial hardship because of the expenses their insurance does not cover. Critical illness insurance could be a strong supplement to other health insurance. Determine if you need critical illness by learning more about what it covers.

Plan Details
Because our critical advantage insurance pays you a cash benefit upon diagnosis* of a covered critical illness or condition, you choose how to spend it:

• Make payments on your mortgage
• Pay medical bills
• Hire help for around the house
• Take a family vacation

*As defined by the policy/certificate

Who needs critical illness insurance?
It’s difficult to predict if and when you will suffer a critical illness, however, if you relate to one of the following descriptions, you may want to consider critical advantage insurance:

• Your high income precludes you from purchasing enough disability to meet your needs
• Your high-risk profession prevents qualification for traditional disability coverage
• You have a high medical deductible
• You don’t have health insurance
• You’re a parent
• You’re self-employed
• You’re a homemaker

How does Critical illness insurance work?
You choose the amount of coverage that fits your budget. Upon diagnosis* with a covered illness or condition, you receive a check for the amount of coverage you purchased.

Additional features:

• Your plan is guaranteed renewable for life or until the end of the term period as your premiums are paid on time.
• Return of premium option. The return of premium benefit is perfect for people who want critical illness insurance, but don’t want to feel like they’ve lost their money if they never use it.
• Dependent children are eligible for coverage through age 25 or until the date of marriage whichever comes first.
• Family coverage – Either partner on a family plan may be primary insured. Premiums will be based on the age of the oldest insured.

What do I use the lump-sum benefit for?
You can make payments on your mortgage and medical bills, hire help for around the house, pay for day care or elder care, travel to treatments. You decide.

Do you need critical illness insurance if you have other types of insurance?

Medical treatment is more advanced than ever, but it’s also more expensive. People today can experience financial hardship because of the expense their insurance does not cover.

Request and appointment today with McDaniel Financial Service to discuss if you need Critical Illness insurance.