Indebtedness due to expenses entailed by critical illnesses is one of the leadings causes of bankrupcy in the United States. This is one of the reasons why critical illness insurance deserves your serious attention. Critical illness insurance covers many critical conditions suffered by many Americans today, such as heart attack, stroke, organ failure, and so on.
Critical illness incurance is often highly flexible, and can include such features that allow the policy owner to maximize the benefits. The coverage can be expanded to include incidents such as the loss of a limb or even accidental death. Under certain conditions, permiums may be waived, or the policy may be converted into one that is long-term. Depending on the scope of the coverage and any stipulations, the policy coverage can be set as either permanent or temporary. Period coverage can be set for extended lengths, with some even offering coverage until the insured turns 100 years old.
Insurance companies do acknowledge that certain illnesses considered critical before are no longer so today, due to advances in diagnostic and treatment methods and techniques. Nevertheless, the need for such critical illness coverage is driven in part by the demand of those seeking coverage. Thus it is not outside the realm of possibility that more common debilitating illnesses, such as diabetes, may be covered in the future.
If you have a family history of a critical illness, or even if you don't, you should give acquiring a critical illness insurance plan some serious thought. Give yourself and your loved ones some peace of mind that in the future, any possible critical illness you get will not be a heavy burden on your finances.