subject: How Do I Purchase A Critical Illness Insurance Policy? [print this page] In order to qualify for health insurance, you most likely were required to have a physical and then fill out a comprehensive medical questionnaire, designed to glean information on everything from your alcohol consumption to your weight and your history of physical and mental illness. When you apply for a critical illness insurance policy, you simply fill out some basic personal and health information and submit your forms online for quotes.
When you begin your search for coverage, first decide what amount of supplemental insurance you need. Most policies offer coverage ranges from $10,000-$50,000. The monthly premium is dependent upon your age, your health history and the amount of coverage you choose.
In addition to filling out basic contact information, you will need to provide information about your gender, your age, whether you are a smoker, and a very basic health history. You will need to provide information on whether you have had a stroke, a heart attack or cancer, or have been diagnosed with HIV/AIDS. Premiums for critical illness insurance begin at around $25.00 for a healthy non-smoking woman. You should analyze your current debt, including mortgage payments, when you are deciding how much coverage to purchase.
Policies generally have a waiting period before they are effective. Once you receive your diagnosis from your physician, you will receive a lump sum payment to be used at your discretion. Medical conditions that qualify for payment include:
Heart Attack
Stroke
Kidney Failure
Organ transplant
Blindness
Deafness
Coma
HIV
Angioplasty
Cancers that have spread from original diagnosis
Paraplegia
Alzheimers
Multiple Sclerosis
Bypass Surgery
Open Heart, Aortic, or Valve replacement Surgery
Severe Burns
Once you have received your payment, you can use it to pay for out-of-pocket medical expenses like co-pays and deductibles. You may also use the money from a critical illness insurance policy to pay for non-medical expenses, including transportation, retrofitting your home, wheel chairs, and outpatient and alternative therapies. The money is to be used at your discretion; no follow-up or documentation is necessary.
Cancer Plans provides an easy way for you to explore purchasing critical issue insurance policy with limited interference or aggravation. Compare policies on CancerPlans.com to find a carrier and policy that works with your age and budget. In just a few minutes, you can be sure that your and your familys financial future will be secure in the event of a major medical crisis.
by: cancerplans
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