In the event of one of the big three health emergencies — cancer, heart attack or stroke — critical illness insurance could be the only thing protecting you from financial ruin. Many people assume they’re fully protected with a standard health insurance plan, but the exorbitant costs of treating life-threatening illnesses are usually more than any plan will cover.
Critical illness insurance provides coverage if you experience one or more of the following medical emergencies:
- Heart attack
- Organ transplants
- Coronary bypass
Because these illnesses require extensive medical care and treatment, their costs can outstrip a family’s medical insurance policy quickly.
Financial Solutions, Treatment and Recovery
Additionally, critical illness treatment can cause out-of-pocket expenses that aren’t covered by traditional health insurance:
- Long-distance calls
- Household help
Meanwhile, living expenses such as car payments, mortgages or rent, and utility bills continue, whether or not you are able to work. If a family member has to stop working to take care of you, the loss of income may be doubled.