What is Critical Illness Insurance?
Critical illness insurance is a specific type of insurance product which offers financial protection in cases where the policyholder is diagnosed with a critical illness listed in the insurance policy.
Critical illness insurance is usually structured so that the insurer makes a lump sum cash payment after diagnosis. However, some policies are structured to pay out regular income in cases where the policyholder must undergo a specified surgical procedure.
What Does Critical Illness Insurance Cover?
Critical illnesses that may be covered by a critical illness insurance policy may include:
- Alzheimer’s Disease
- Parkinson’s Disease
- Multiple Sclerosis (MS)
- HIV/AIDS that is contracted by blood transfusion or during a medical procedure
- Kidney failure
- Major organ transplant
- Paralysis of limb
- Terminal illness
At SunGate Insurance Agency, our goal is to provide you with the right critical illness insurance policy to offer you and your family peace of mind! Contact us today find the policy that works for you!