| Serious diseases such as cancer, heart failure, | | | | problems, and what is considered 'critical' here should |
| diabetes, etc., infect most people during their retirement | | | | be spelled out in the contract. Something like angina |
| years. These conditions can create huge expense, | | | | would most likely not be covered but an M.I. |
| some or much of which isn't covered by their ordinary | | | | (myocardial infarction) probably would, as long as the |
| health and disability insurance. Fortunately, some | | | | heart has received permanent tissue death and |
| insurance companies have innovated to plans that | | | | scarring. Some policies require a blockage of the blood |
| cover critical illness. The purpose of these plans is to | | | | supply to the heart to rate it as critical. It sounds pretty |
| supplement the patient's regular medical policy with | | | | critical to me! |
| additional benefits. | | | | The increase in claims and the spiraling cost of medical |
| Most of the policies available pay out when the insured | | | | procedures has led most insurers to cut down on the |
| has been diagnosed to having a certain critical illness. | | | | conditions they cover or impose many restrictions in |
| Some of the companies limit their coverage to only | | | | considering an illness to be critical. Some companies |
| certain, specific conditions. These will be listed in the | | | | offer various plans, including 'premium' plans that cover |
| policy. Cancer, heart attack, kidney failure, major organ | | | | more but also cost more to buy. Other, typical |
| transplant, stroke and multiple sclerosis are prominent | | | | diseases listed in a policy to cover critical illness might |
| conditions that are covered. Benefits are typically paid | | | | include the following: |
| out at the time the diagnosis is certified, as a lump sum. | | | | · Stroke (when a blood vessel ruptures or a blood |
| The insured can spend the money any way he sees | | | | clot forms in the brain) |
| fit, whether it's paying toward the medical expenses or | | | | · Alzheimer's Disease (patient must be diagnosed |
| making mortgage payments. Some will use the lump | | | | with advanced Alzheimer's and require permanent |
| sum to hire a caregiver or even take a vacation, if | | | | daily supervision) |
| that's their priority. | | | | · Major Organ Transplant (patient must exhibit clinical |
| Of course, not all 'critical illness' is covered and there | | | | evidence of major organ failure) |
| will be qualifications for each one that is. For example, | | | | Policies will also usually cover blindness, deafness, |
| cancer will usually be covered but it may have to be | | | | Multiple Sclerosis, paralysis and kidney failure. For |
| considered 'life-threatening'. Some policies will require, in | | | | someone having any of these conditions, medical |
| order to qualify for benefits, that it be malignant and | | | | technology is great but so is the expense. Most regular |
| growing outside of its area of origin, affecting normal | | | | insurances don't cover everything, and a policy made |
| tissue. There will also be some exceptions for heart | | | | to cover critical illness can be a real life-saver, literally. |