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Critical Illness

Available from Stevens & Associates Insurance Agency, Inc.

Critical Illness Benefits can be Reimbursement type or Cash Back Lump Sum. They typically pay their benefit upon diagnosis of a Critical Illness such as a Heart Attack, Stroke, Organ Transplant, Etc. Once diagnosed the benefit amount is paid. The money received from the Lump Sum Cash Back Plans can pay for the deductible on Major Medical Plans, Coinsurance or even help with household expenses, mortgages or car payments. You may also use the money as income replacement if you are out of work.

This coverage is very beneficial for those ages 40+ and the cost for this type of protection is minimal, especially when you view the statistics regarding critical illness diagnosis as we age. This type of coverage is a generally very affordable, and statistically a good idea. Cancer coverage is a great plan to add to existing Major Medical plans, especially since so many plans today require PPO providers and usually have higher deductible. Cancer polices help fill the void for an affordable premium.

Most cancer policies today are cash back, which means they pay the lump sum benefit upon first diagnosis. You can use the money however you wish. Most people who receive this benefit use the money to pay the deductible on their insurance and for other living costs.

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