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Critical illness insurance pays a lump-sum, tax-free, cash payment if you are diagnosed with and satisfy the survival period for any one of the critical illnesses covered by your policy.


The most common covered conditions include:

  • Life threatening cancer

  • Heart attack

  • Stroke

  • Major organ transplant

  • End-stage renal (kidney) failure


Note: Many companies offer additional illnesses under their contracts. It is important to carefully read your contract so you understand what is a covered condition.

How do critical illness policies work?

Critical illness insurance policies are designed to pay you a lump-sum, cash payment for the First Diagnosis of Cancer.* All of the policies offered on Masshealthquote.com are intended to fill in the gap between your traditional health insurance policy and the additional costs associated with being diagnosed with cancer or a serious illness.

Why do I need a Critical Illness Insurance policy?

According to the American Cancer Society approximately 65% of cancer related expenses are not covered by regular health insurance*.

Additionally, the high incidence rate of cancer means that you or your loved ones may develop cancer at some point in time. While you may have health insurance coverage, there is no guarantee that it will cover the costs of additional expenses unrelated to your treatment plan.


What are some expenses that these policies can help me pay for?

Critical Illness benefits are payable as a lump sum & in addition to any other type of insurance you may have. You can use your critical illness benefits to:
 

  • Make payments on your mortgage or rent
  • Pay your medical bills, or use it to help with co-payments and deductibles
  • Pay for living expenses while you recuperate
  • Use the money for lodging and travel to specialized treatment facilities
  • Use the money to pay for non-covered experimental treatments
  • Supplement your loss of income

 

What is the main difference between a Cancer Insurance policy and  a critical illness policy?

Cancer policies cover only one illness (cancer). Critical Illness insurance policies can cover up to 18 different illnesses (varies by carrier) and pay you a lump-sum payment if you are diagnosed with heart attack, cancer, stroke, illness, coma or renal failure and satisfy the survival period for any one of the illnesses covered by your policy.


The most common covered critical conditions include: Cancer, Heart Attack, Stroke, Major Organ Transplant, and End-Stage Kidney Failure.


I already have health insurance, can I still purchase a Cancer Insurance policy?

Absolutely. All of these policies are considered "supplemental insurance policies" which means they apply in addition to any other form of insurance you currently have. You can then use the money to pay for other deductibles and related expenses associated with your illness.

Please contact us for free critical illness and cancer insurance quotes.

 
 
   
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