Critical illness insurance is medical insurance that pays a lump-sum benefit upon diagnosis of a critical illness or condition. 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:
Chances are, you personally know someone who has suffered from a Critical Illness. Whether it is a heart attack, cancer, stroke, end stage kidney dialysis, or a myriad of other critical illnesses, these are life changing events that can strike at the drop of a hat. And no one is immune to these possibilities.
Many times continuing your daily work schedule isn't possible and your monthly income is lost. Sometimes, a spouse may lose time at work as well, thereby suffering loss of wages. Or, maybe you find that you must travel out of state to see a specialist.
Many times, there are medical costs that aren't covered by your health insurance.
Although medical insurance and other insurance coverages you may have are essential, they won't cover everything. Medical treatment has never been better, but it's 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.
BecauseCritical Illness insurance pays you a cash benefit upon diagnosis of a covered critical illness or condition, you choose how to spend it:
Critical Illness Insurance was created by a South African cardiac surgeon by the name of Marius Barnard. He was motivated by the financial hardship he saw his patients suffer after he had treated their critical illnesses. Barnard has been quoted as saying, that, "As a medical doctor, I can repair a man physically, but only insurers can repair a patient's finances". On the 6th of October, 1983, the first critical illness insurance policy was launched.
We also consult on the following types of coverage:
Spirit Financial Concepts is a member of the National Association of Health Underwriters.