Watch our video How critical illness insurance helps cover the costs of treatment.
Critical illness insurance Critical illness insurance may help you cover expenses not covered by your health insurance. It’s a cash payment you receive if you ever experience a serious illness like cancer, a heart attack, or a stroke, giving you the financial support to focus on recovery. Who is it for? Critical illness insurance is a supplemental policy forpeople whoalready havehealthinsurance.Itprovidesyouwithanadditional paymentto coverexpenseslikedeductibles,treatments,andliving costs. What does it cover? Critical illnesses include strokes, heart attacks, Parkinson’s disease andcancer.Ourpoliciescancoverover30majorillnesses, helping youstayfinanciallystablebypayingyoualumpsumif you’re diagnosedwithoneofthem. Why should I consider it? Health coverage is becoming more expensive, with higher co-pays, premiums, and deductibles. Critical illness insurance isanaffordable way to supplement and pay for additional expenses that your health insurance doesn’t cover. Our policies typically provide payments for the first and second time you’re diagnosed with a covered illness. Plus, critical illness insurance is portable and payments are made directly to you.
Critical costs John is hospitalized after a heart attack, and has to cover the cost of five days as an inpatient.
Average heart attack hospitalization expense: $53,000
Average Major Medical deductible: $1,500 Major Medical covers 80% of the cost after the deductible is met, but John’s still responsible for 20%: $10,300. Total out-of-pocket amount for John (deductible + coinsurance): $11,800. John has a $10,000 Guardian Critical Illness policy, which covers the majority of these out-of-pocket expenses.
This example is for illustrative purposes only. Your plan’s coverage may vary. See your plan’s information on the following pages forspecific amounts and details.
You will receive these benefits if you meet the conditions listed in the policy.
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