What is Critical Illness Insurance? Coverage and Benefits

What Does Critical Illness Insurance Cover and Who Needs It?

When a life-changing health event takes place, critical illness insurance can help make all the difference. Aflac offers supplemental critical illness insurance for individuals that can provide coverage for additional expenses not covered by your primary health insurance plan. Discover what a critical illness insurance policy is, what it can help cover, and if this type of coverage makes sense for you and your family’s needs.

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Key Takeaways

Critical illness insurance can provide financial protection in the event of a major health emergency, such as a heart attack, stroke, or organ failure.
Aflac’s supplemental critical illness insurance for individuals can provide you with lump-sum cash benefits that you can use to cover expenses, from medications and therapy to groceries and rent.

What is critical illness insurance?

Critical illness insurance is a supplemental insurance plan that helps provide financial support when you experience a critical illness, or major health emergency like a heart attack or stroke.¹ It can be beneficial that you get a critical illness plan before a major health event takes place to be able to access benefits. Aflac’s critical illness insurance for individuals pays you lump-sum cash benefits that can be used to cover expenses as you recover. You can purchase this type of plan directly through Aflac.

What does critical illness insurance cover?

Critical illness insurance typically offers coverage to help with conditions like a heart attack, stroke, or organ failure. It’s crucial that you research what illnesses are explicitly written out in your critical illness plan to ensure you know what is covered by critical illness insurance. Be sure to check out what Aflac critical illness insurance can help with. If you have further questions, chatting with an agent can help provide further clarity.

How to use your critical illness insurance benefits

As noted above, Aflac’s critical illness insurance for individuals pays policyholders lump-sum cash benefits that can be used however they are needed most. You could use these benefits to help pay for copays and deductibles, any missed income, prescription medications, therapy, or everyday expenses, like groceries and rent. With critical illness coverage, you can decide where you could benefit from additional financial assistance.

Who needs critical illness insurance?

Here are some individuals who may benefit from getting a critical illness insurance policy:

People with a family history of critical illnesses: Individuals with a genetic predisposition to certain critical illnesses, such as a heart attack or stroke, are at higher risk. Critical illness insurance can provide financial support if you develop one of these conditions.
Sole income earners: Those who are the primary source of income for their families might need this supplemental plan to ensure that their family’s financial stability is maintained in case of a critical illness.
Parents with young children: Parents with dependents may need this insurance to ensure they can continue to provide for their children’s needs, such as education and daily expenses, if they are diagnosed with a critical illness.
Older adults: Older individuals, especially those approaching retirement, might need critical illness insurance to help cover medical expenses and support their lifestyle in case of serious health issues.
Those seeking peace of mind: You may choose to get a critical illness insurance policy for the reassurance that you’ll have financial support if an unexpected diagnosis occurs.

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How much critical illness insurance coverage do I need?

After deciding if you should get critical illness insurance, it’s time to figure out how much support you may need. The amount of cash benefits offered varies and may differ depending on the plan options and tier of coverage you choose. Reading the fine print and understanding the differences between each level can help you decide how much coverage is right for you and your loved ones.

How can I get critical illness insurance?

Here are some ways you can get critical illness insurance:

Purchase an individual policy: If you get critical illness insurance for individuals, you can tailor the coverage to your specific needs and circumstances. To get a critical illness insurance policy from Aflac, you can start the process by filling out an online form. Next, an Aflac agent will call you to discuss your coverage options.
Get a policy through your employer: Employer-provided options can offer convenience and potentially lower premiums due to group rates, but may not be as comprehensive as individual policies. Enrollment typically takes place during your company’s open enrollment period or when you become newly eligible for benefits.

To navigate these choices effectively, it’s wise to seek advice from an insurance agent or financial advisor. They can provide insights into the various policies available, help assess your needs, and guide you in selecting the most suitable coverage to ensure financial protection in case of a critical illness.

Get critical illness insurance from Aflac

While we hope you and your family never have to battle a critical illness, having critical illness insurance in place can help make your journey a little bit easier. Aflac critical illness insurance for individuals comes with extensive coverage and reasonable premiums that fit most budgets. To learn more about the plans we offer, start chatting with an agent today.

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