Living with a critical illness adds layers of complication to life’s everyday struggles. Mounting medical bills and long leaves of absence from work can culminate in serious financial trouble. Fortunately for those struggling with these burdens, there’s special insurance designed specifically to keep you financially afloat. In this post, we’ll learn a bit more about critical illness insurance. We’ll also take a look at the best critical illness insurance carriers on the market.
A Bit About Critical Illness Insurance
In 1983, a South African cardiac surgeon named Dr. Marius Bernard invented critical illness insurance, then known as “dread disease insurance,” as a means to safeguard people suffering from devastating, life altering illnesses like cancer, strokes, and heart attacks. This is achieved by offering a lump sum payment to those experiencing a critical illness; money which can be used for a variety of purposes, including: out-of-network specialists and procedures, everyday living expenses, and wages lost during illness-related work absences.
Critical Illness Insurance is supplementary; it is not meant to replace standard health insurance, but to provide additional coverage for illnesses not optimally covered by your regular health plan.
Popular Providers
There’s no shortage of insurance plans that can offer you the benefits you’re looking for, but each provider has pros and cons to be aware of; some will have strengths for employers offering benefits to employees, while others will offer streamlined applications for ease of access. Below are some of the most popular and highly rated critical illness insurance providers on the market:
- Aflac
- Mutual of Omaha
- Colonial Life Insurance Company
- Liberty Mutual Insurance
- AIG
- Assurity
- American Fidelity
Insurance Shops Can Help You Find The Best Critical Illness Insurance For You!
If you’re looking for someone to help you weigh the pros and cons of critical illness insurance, Insurance Shops is here to help. We know the ins and outs of the insurance industry and will offer sound guidance to help you find the perfect plan for you. Don’t wait until it’s too late; reach out to us today and take action to protect your future!
