|
|
Article: Lean on critical illness coverage.(critical-illness insurance as part of financial planning)(Brief Article)
- Article from:
- Money Digest
- Article date:
- June 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Money Digest. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Insurance can pick up unforeseen expenses after illness is diagnosed
"Critical illness coverage" is a type of insurance that creates a stopgap between the financial risks of death and disability. In a sense, critical illness insurance can pick up the unforeseen expenses of a living disability by providing a lump sum of tax-free cash 30 days after of the diagnosis of a major critical illness.
There is a long list of these illnesses: Alzheimer's disease, cancer, blindness, coma, deafness, heart attack, kidney failure, Multiple Sclerosis, Parkinson's disease, stroke, major surgery, loss of speech, major burns, major organ transplants, valve replacement. ...