Frequently Asked Questions about Critical Illness Insurance

Get Quality Coverage through Executive Planning Group

There are not too many of us who like to think about planning for the unimaginable. Instead, we focus on becoming and staying healthy. We want to make sure we eat right, exercise, limit alcohol, and stop smoking. Sadly, all the good things we do will not prevent everything that can happen. For example, while some are fixated on hitting the gym every day, they may not be prepared for an accident that causes paralysis. What do you do when the unthinkable happens, and your entire world is turned upside down? An critical illness insurance policy from a dependable broker can make the difference between feeling hopeless and having the confidence that you will make it through financially, while on the road to recovery.

4 Common Questions Regarding Critical Illness Insurance

Within the last 5-10 years, more U.S. citizens are considering this policy in their health care portfolio. Here are four commonly asked questions about this valuable coverage:

  1. What is Critical Illness Insurance? This coverage is sometimes referred to as critical care insurance. The premise is that you receive a lump sum distribution after a doctor diagnoses you with a severe (covered) illness. It is a policy paid for and held separately from regular health insurance. Some employers may offer it through a benefits package. Each policy is written differently, so it makes sense to consult your trusted insurance broker to ensure you receive what you need.
  2. How Does It Work? You pay a monthly premium as you do for your other types of insurance. But, in return, you receive coverage if you become ill. Lump sums vary and depend on what illnesses your policy covers. Factors that go into your premium include age, general health, who the coverage protects, how many illnesses it covers, and whether you use tobacco products. If your doctor diagnoses you with a severe illness, you file a claim, and if it is covered under the policy, the insurance company pays out.
  3. What Can I Use the Policy Proceeds for? The benefit money is yours to help cover personal and health care costs during your treatment. Use them for living expenses, in-home care, uncovered treatment costs, traveling to and from treatment, other health insurance deductibles, and childcare expenses.
  4. What Does It Cover? As the name suggests, critical illness insurance assists you when you have been diagnosed with a severe illness. The most common illnesses are cancer, heart attack, and stroke. Also, you can get coverage for additional illnesses such as angioplasty, kidney failure, organ transplants, Alzheimer’s disease, multiple sclerosis, paralysis, and severe burns.

Protect Your Family with Critical Illness Insurance from EPG Benefits

Talk with a dependable broker at the Executive Planning Group. We can take the mystery out of critical illness insurance by answering your questions. We don’t stop there. We work with you for all your financial planning, life insurance, and other financial product needs. Request a quote online.

Call us at 601-982-3000 to discuss critical illness insurance in Mississippi.

Disclaimer: Securities offered through Valmark Securities, Inc. Member FINRASIPC. Investment advisory services offered through Valmark Advisers, Inc., an SEC-registered investment advisor. Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

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