Critical Illness Policy

Critical Illness Insurance Policies

Chicago Insurance Advisors

Critical illness insurance is an insurance policy designed to pay a lump sum payment if a specific critical illness befalls a person. The three major illnesses are heart attack, cancer and stroke. This is a type of insurance that a company can offer to its employees. The benefits to one’s employees are immense and the cost is reasonable. In many cases, it can help keep employees from filing bankruptcy due to unpaid medical bills or allow them to seek experimental treatments.

Every person and individual is a good candidate for this type of insurance. No one knows when an illness of this sort might occur. These illnesses are not limited to any age or income bracket. People who have assets they want to protect from medical bills and other lost income due to illness want to protect can benefit from this type of insurance.

As soon as someone is diagnosed or struck by one of these critical illnesses, they receive a lump sum payment for the amount of their policy. These payments are not subject to taxes. This lump sum can be used in any variety of methods. It can be used to pay for treatments not covered by medical insurance or to pay household expenses incurred while the person is unable to work and earn their typical salary.

While the most common critical illness insurance policy covers a person in case of cancer, stroke or heart attack, there are other illnesses that can be covered. These would include such things as organ transplants and kidney failure. Policies can be purchased by individuals, or it can be presented as part of a group coverage offered by an employer for their employees benefit.

There are many major benefits of having this type of insurance. Anyone of these critical illnesses can cause a person to incur massive medical and hospital bills that could lead to bankruptcy. If someone suffers from one of these illnesses, they will most certainly need any extensive recovery time, leaving them unable to work and make their household bills. This type of insurance will enable them to pay their bills and keep up with payments until they are able to return to work.

Click here to learn more at

Back to Home
Learn about Auto Insurance
Learn about Homeowners Insurance
Learn about Life Insurance