As life expectancy is generally on the rapid decline around the world with a lot of cost-intensive illnesses constantly showing up, there is a need for a scheme that protects individual from financial ruin if confronted by any of these critical illnesses.Critical illness insurance was developed in 1996 by the United State’s government to help citizens survive and manage illnesses that come with exorbitant medical bills. Critical illness insurance covers medical emergencies such as heart attack, stroke, cancer, organ transplant and other related high bill illnesses. Many people never consider getting critical illness insurance because they feel they are covered by the standard health insurance policy but ironically, high cost of treating life-threatening illness as mentioned above is more than what any standard plan can cover.

Why You Need To Consider Critical Illness Insurance

• They cover medical bills where traditional health care insurance plan may not cover.
• 2) The money from critical insurance can also be used for other expenses related to the illness such as transport, childcare, feeding, getting wheelchair among others.
• 3) In the case of terminal illness, or there is a need for a restful place to enhance recuperation process, part of the money can also be used to fund vacation with family/friends.
• 4) They help to pay for critical medical services that might not be available commonly including getting an expert medical servic
• 5) They only cover a few illnesses listed in the policy and only under certain circumstances.
• 6) Some of the policies limit the amount to be paid out once the policyholder reaches certain age usually between 65-75 and people above certain age are no longer eligible for payment.

Certain illness has sent many people to bankruptcy and many people have been worried over the thought of protecting themselves against this ill fate. Critical illness insurance can relieve you of this financial worry or burden in case of these illnesses in the sense that money paid out can be used for a variety of needs that may arise with the illness. It is also worth noting that these policies have certain limitations, terms and conditions, therefore, it is best to evaluate all forms of critical illness insurance policy, understand their terms and conditions before choosing the one that best meets your needs and situation.