Analyze the Coverage: Critical Illness Insurance
It’s common knowledge that athletes are some of the healthiest people on earth. But that doesn’t mean they’re immune to health problems—between heart issues, organ troubles and more, it’s not unheard of for an athlete to face an unexpected crisis. And if professional athletes can be blindsided by a critical health situation, anyone can. Critical illnesses are so common that, in the U.S. alone, someone has a heart attack every 40 seconds.1 That’s why it’s important to have critical illness insurance—even if you feel healthy.
Here are three ways that critical illness insurance can help protect you and your family:
1. Critical illness insurance can help cover heart, sickle cell and other diseases.
Critical illness insurance is like a great football secondary—it might not be able to cover everything (one-on-one matchups, like having cancer insurance match up with cancer, may be more helpful in those instances), but it can help cover a lot.
Whether it’s heart disease or sickle cell disease, kidney failure or an organ transplant, critical illness insurance will help you tackle the issue head-on, physically and financially.
2. Critical illness insurance can help cover medical expenses.
Did you know the average cost for being hospitalized with a heart attack is $47,666? And that even with health insurance, it can still cost you money out of pocket?2 That same money can help put a kid through college, or make you a season ticket holder.
The cost of other critical illnesses can also keep you from sitting courtside.
Fortunately, when you make your claim, you can use the cash benefits from your critical illness insurance policy to help cover your medical expenses, so you can get back to cheering on your favorite team in person.
3. Critical illness insurance can help cover your non-medical expenses.
Benjamin Franklin once said that nothing is certain except death and taxes. As modern adults, we’d like to add rent. And the grocery bill. And a streaming service or two.
Here’s the reality: When your new medical bills come in, your other expenses don’t go away.
Critical illness insurance can help you pay for them. When you receive your policy’s cash benefit, you can use that money as you see fit. After all, when you’re recovering from a critical illness, the last thing you need to worry about is putting food on the table.
When it’s all said and done, critical illness insurance helps you pay for what you need to pay for so you can focus on what’s most important: you.
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