Life Insurance and Critical illness

Presented By: Secure Senior Life Insurance

Discussion Topic:

The Types of Critical Illnesses. Life Insurance with Critical

Illness. How Life Insurance Helps People

with Critical Illness.

Introduction – What is Critical illness?

Also known as critical illness insurance, this form of life insurance is designed to cover the policy holder in case they come down with specific illness that is described in the policy itself. Life insurance and critical illness is a very common policy combination that has been in existence for decades. Once diagnosed with the illness, the policy holder will receive the benefits level of the insurance in a single, lump-sum payment or in several payments depending on the guidelines of the policy itself.

The diagnosis must be from a licensed physician who specializes in that particular field or as a result of verifiable tests in order for it to be valid. It is a common feature of this type of policy to have a survival clause in which the policy holder must live a pre-specified number of days after the diagnosis. While the period of time will usually vary, it is generally 14 days with most companies.

Diagnosis and Survival Clause

o Since the creation of life insurance with critical illness back in 1983, there are four major types of critical illnesses that are covered include the following:

CancerCoronary Artery By-PassHeart Attack Stroke

Types of Critical Illnesses

Newly Added Diseases in the List Since that time, many life insurance

companies have included other forms of critical illnesses and added them to the list of what their policies will cover which includes, but are not limited to the following:

Alzheimer’s Disease Blindness & Deafness HIV/AIDS contracted via blood transfusion Kidney failure Multiple Sclerosis Parkinson’s Disease Paralysis of a Limb Terminal Illness

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All of these illnesses are critical because they either represent a mortal threat or are permanent in nature. However, the list of critical illnesses changes due to advancements in treatments which results in the changing status of the diseases. In the future, it is very well possible that many on this list will be eliminated due to advanced treatments. The medical technology has tremendously improved over the last few decades and the progress is going on.

LIFE INSURANCE WITH CRITICAL ILLNESS

Essentially, the insurance will be underwritten with the focus on assessing the risk of contracting a critical illness. Age, health, lifestyle and environment are the factors involved which will determine eligibility and premium payments.

Most insurance companies offer this form of life insurance which can be found on their websites. Usually, people can apply for it on the web or over the phone, but a medical exam may be required to qualify.

HOW LIFE INSURANCE HELPS PEOPLE WITH CRITICAL ILLNESS

Life insurance with critical illness rider allows those who may be vulnerable to one or more types of serious illnesses to be covered in case the worst happens. The insurance itself is designed to cover those who have yet to develop any symptoms of a critical illness, but applying for the policy will depend in large part on the rules that are set by the insurance company.

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When activated, the life insurance with critical illness can provide the money needed for proper treatment or for support of the person and family while they are under care. The insurance can provide for those who may be vulnerable due to their genetics or the environment in which they live to contracting a critical illness.

To learn more about life insurance, visit:

http://secureseniorlifeinsurance.com