Benefits Of Critical Insurance

Critical illness insurance is an insurance policy in which the policyholder receives the lump sum stipulated in the contract in specific circumstances wherein the insured is diagnosed with a serious disease that is specified within the contract. 

If you choose to purchase the policy, you will receive the additional death benefit from the life insurance policy in addition to a tax-free benefit to the beneficiaries. Serious ailment insurance policies may stipulate that the insured has to live for a certain amount of time following the diagnosis of illness before the insurance payouts are paid.

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However, the four main diseases that are covered by this policy were first defined in 1983. They are coronary artery bypass surgery heart attack, cancer, and stroke. Later, other illnesses were added to the definition like Alzheimer's disease kidney failure major organ transplant blindness, multiple sclerosis deafness, paralysis of the limbs and terminal illnesses, HIV or Aids that were contacted by blood transfusions, etc.

The amount of diseases or ailments covered under the critical illness insurance program is ever-changing in addition to the quantity available for a particular condition may change periodically according to the number of diagnoses being made as well as the treatment options available to treat the illness. This means that insurance coverage for diseases that were thought to be crucial in the past may not be as nowadays and diseases that are covered today may not require as much insurance coverage in the future.

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