Critical Illness

Critical illness insurance can be a vital, yet affordable add-on benefit to your health insurance and Medicare planning that is highly recommended by:

• Parents with young children: to provide for their children's education and living needs if they become seriously ill 

• Older adults: People who may need help covering medical expenses and supporting their lifestyle 

• People with a family medical history of serious illnesses: People who’s parents were afflicted with certain genetically linked illnesses, like cancer, stroke or heart attack

•  Sole family income providers: People who are the primary financial support for their families

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How does critical illness insurance help?
 

• Critical illness insurance can help cover medical expenses and other financial obligations 

• It can help protect your income and savings from the high costs of long-term care 

• It can help you pay for and access treatment you need 

What does critical illness insurance cover?
 

Critical illness insurance, also called catastrophic illness insurance or specified disease insurance, provides coverage in an event a policyholder experiences a medical emergency due to an illness listed in the policy.
 

Medical conditions and procedures include:

• Accidental brain damage

• Amputation

• Angioplasty

• Arthritis

• Cancer

• Coma

• Connective tissue disorders

• Coronary bypass

• Dementia

• Heart attack

• Kidney failure

• Loss of vision or hearing

• Multiple sclerosis

• Organ transplant

• Paralysis

• Parkinson’s disease

• Severe burns

• Stroke
   

Most policies pay out a lump sum that the policyholder can use to replace lost wages or pay for treatment-related costs. 
 

The payout can also be used for specialty medications and non-medical expenses, including mortgages and groceries. 
 

Some insurance providers also give the insured the option to take monthly payouts that they can use while recovering.

 

How much does critical illness insurance cost?
 

There are several factors that determine the premium cost of critical illness coverage:
age, gender, medical history and the benefit amount selected.
 

AccessHMO offers critical illness coverage that protects you at home or when traveling abroad.