What is critical illness insurance?
Critical illness insurance pays a lump-sum cash benefit if you're diagnosed with a serious condition the policy covers. Common covered conditions include heart attack, stroke, and cancer, and many plans also cover conditions such as kidney failure or a major organ transplant. The benefit is usually paid directly to you, in addition to anything your health insurance pays.
Even with good health insurance, a serious diagnosis can bring deductibles, out-of-network costs, travel for treatment, and time away from work. A critical illness benefit gives you cash to handle those costs your way.
Who it's a good fit for
- People with high-deductible health plans or high out-of-pocket maximums
- Families who depend on one or two incomes
- People with a family history of heart disease, stroke, or cancer (subject to underwriting)
- Self-employed people without paid sick leave
How it works
You choose a benefit amount when you apply. If you're diagnosed with a covered condition after any waiting period, you file a claim with your diagnosis, and the plan pays according to its terms. Depending on the plan:
- Some conditions pay a partial benefit, for example certain early-stage cancers
- Some plans pay an additional benefit if a condition recurs or you're diagnosed with a different covered condition
- Some policies require that you survive a short period after diagnosis
- Pre-existing condition limitations and waiting periods may apply
Every policy defines its covered conditions precisely, so reading those definitions matters. I'll go through them with you before you decide.
Why use a local independent agent
Critical illness plans vary in which conditions are covered, how they're defined, partial benefits, and recurrence rules. I compare plans from multiple carriers so you can see the differences side by side, without pressure. There's no cost to talk and no obligation.
Serving the Lake Norman area
I help individuals and families across Lake Norman, including Mooresville, Cornelius, Davidson, Huntersville, Denver, and Troutman, compare critical illness coverage that fits their budget. I'm also licensed in 16 other states and Washington, D.C.
Critical illness insurance is a supplemental, limited-benefit policy. It is not major medical insurance and does not replace health or disability coverage. Covered conditions, benefit amounts, waiting periods, limitations, and exclusions vary by plan and state. The MacMillan Agency is not affiliated with Medicare or any government agency.