Many people assume they’re completely protected under standard health insurance coverage, but this isn’t always the case. The inordinately high costs of treating life-threatening conditions and illnesses tend to exceed ordinary insurance plans.
For this reason, insurance companies offer critical insurance policies that are specifically designed to cover the costs of health emergencies such as a heart attack, stroke, organ transplant, cancer, etc.
Why It’s Important To Have Critical Illness Insurance
Even if you have excellent health insurance plan, one critical illness can set you back financially—majorly. Critical illnesses require extensive medical treatment and care, the costs of which are the highest patients have to deal with.
Currently, cardiovascular disease costs Americans $555 billion in medical and indirect costs. By 2035, those costs will hit $1.1 trillion.
Critical illness insurance typically covers medical care and treatment for:
- Heart attack
- Coronary bypass
- Organ transplants
- Multiple sclerosis
- Kidney failure
- Paralysis of limb
Because many employees worry about high medical expenses they can’t afford, some employers offer critical insurance plans as a voluntary benefit. However, you can, of course, purchase critical insurance coverage on your own as well.
Here are some of the benefits of having a critical illness plan.
- It allows you access to out-of-pocket funds that pay for critical medical services. These services may otherwise be unavailable to you.
- You can pay for medical treatments that aren’t covered by a standard medical insurance policy.
- Allows the critically ill to pay for daily living expenses so they can focus on getting better instead of trying to pay their bills.
- A unique benefit of critical illness insurance is that it covers the transport expenses of traveling to and from treatment centers.
- It pays for retrofitting vehicles to carry wheelchairs and scooters. Moreover, they also pay for installing home elevators for patients who can’t use the stairs.
- Terminally ill patients can use the money to take a vacation with family or friends in order to rest and recuperate.
As a leading insurance broker in Florida with years of experience, we ensure that our clients and their families are secure with strong financial plans and insurance coverage.
If you require affordable critical illness insurance FL, life insurance, or term insurance Pinellas County, Broward County, Palm Beach County, Hillsborough County, and elsewhere in Florida, get in touch with us for a free quote! Or call us at (800) 381-1245.