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
  • Stroke
  • Organ transplants
  • Cancer
  • 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:

  • Travel
  • Food
  • Lodging
  • Long-distance calls
  • Childcare
  • 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.