What Is Critical Illness Insurance?
Understanding Critical Illness Insurance
No one plans for a critical illness but having essential supplemental insurance coverage during a major medical event can bring peace of mind and financial support when it is needed most.
Critical illness insurance is the plan that protects you in the event of a future major illness diagnosis. This type of plan supplements existing health insurance coverage with extra funds that meet the demands that come with critical illness health emergencies. You may receive a lump sum to cover these added expenses or monthly payments depending on the plan. Coverage limits vary, but the additional protection helps you focus on recovery rather than costs.
How Critical Illness Insurance Works
Just like your health insurance plan, you pay a monthly premium for critical illness protection. If you are diagnosed with a major illness, critical illness insurance pays you depending on the coverage level of the plan and type of illness. Other factors may include:
- Your age.
- Your general health and health-risk factors.
- The number of illnesses covered by the plan.
- Whether you have selected an individual, couple, or family plan.
- Whether you smoke or use tobacco products.
Some critical illness insurance plans may guarantee coverage without requiring a health screening, especially if you already have another plan with that insurer.
What Does Critical Illness Insurance Cover?
Critical illness insurance plans typically cover conditions classified specifically as critical illnesses. Major health events typically include but are not limited to:
- Heart attacks
- Strokes
- Organ transplants
- Cancer
- Coronary bypass
Questions To Ask About Critical Illness Coverage
Every critical illness insurance plan is different, so be sure to know the answers to these questions concerning your coverage.
- What critical illnesses will be covered by the plan?
- Will you receive a lump sum or monthly payments?
- Is there a waiting period before the payment?
- What percentage of your total benefits will be paid?
- Will you have coverage if a critical illness returns after recovery?
How To Use Critical Illness Benefits
Unlike health insurance — which pays for medical procedures, doctors, and hospitals — critical illness benefits can be used for any expenses that come during those tough times.
The benefits are paid directly to you, so they can be used for cost-of-living expenses during recovery, travel to and from treatment, and in-home care. Critical illness insurance benefits can also be used for other medical costs not covered by your health insurance plan, deductibles and copays, and even childcare expenses while you recover.
Is Critical Illness Insurance Worth It?
The monthly premiums of most critical illness plans are typically low in cost, which makes them affordable add-ons to your health insurance coverage. Think about critical illness insurance if you have a family history of certain diseases, or you or a family member are becoming older and need extra coverage for protection against major illnesses due to aging.
Rounding Out Health Insurance With Supplemental Coverage
A critical illness insurance plan is just one type of supplemental coverage that can complete your health insurance coverage. Adding other supplemental insurance plans gives you added protection in times of health emergencies, such as accidents and hospitalizations.
Accident insurance provides cash payments to help cover medical expenses not covered by your health insurance plan and out-of-pocket costs from an injury or accident.
Hospital indemnity insurance pays cash benefits that may cover inpatient hospital stays due to injury or illness, as well as expenses while you are recovering at home.
Choosing A Critical Illness Insurance Plan
Anthem is here to help you select a critical illness insurance plan that is right for you and your family. Learn more about how supplemental insurance and health insurance coverage work together to create comprehensive protection for peace of mind.
For more information, call us at 888-811-2101 (TTY: 711).
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Anthem Blue Cross and Blue Shield is the trade name of: In Colorado: Rocky Mountain Hospital and Medical Service, Inc. HMO products underwritten by HMO Colorado, Inc. In Connecticut: Anthem Health Plans, Inc. In Indiana: Anthem Insurance Companies, Inc. In Georgia: Blue Cross Blue Shield Healthcare Plan of Georgia, Inc. and AMGP Georgia Managed Care Company, Inc. In Kentucky: Anthem Health Plans of Kentucky, Inc. In Maine: Anthem Health Plans of Maine, Inc. In Missouri (excluding 30 counties in the Kansas City area): RightCHOICE® Managed Care, Inc. (RIT), Healthy Alliance® Life Insurance Company (HALIC), and HMO Missouri, Inc. RIT and certain affiliates administer non-HMO benefits underwritten by HALIC and HMO benefits underwritten by HMO Missouri, Inc. RIT and certain affiliates only provide administrative services for self-funded plans and do not underwrite benefits. In Nevada: Community Care Health Plan of Nevada, Inc. and Rocky Mountain Hospital and Medical Service, Inc. HMO products underwritten by HMO Colorado, Inc., dba HMO Nevada. In New Hampshire: Anthem Health Plans of New Hampshire, Inc. HMO plans are administered by Anthem Health Plans of New Hampshire, Inc. and underwritten by either Matthew Thornton Health Plan, Inc. or Anthem Health Plans of New Hampshire, Inc. In 17 southeastern counties of New York: Anthem HealthChoice Assurance, Inc. and Anthem HealthChoice HMO, Inc. In these same counties Anthem Blue Cross and Blue Shield HP is the trade name of Anthem HP, LLC. In Ohio: Community Insurance Company. In Virginia: Anthem Health Plans of Virginia, Inc. trades as Anthem Blue Cross and Blue Shield, and its affiliate HealthKeepers, Inc. trades as Anthem HealthKeepers providing HMO coverage, and their service area is all of Virginia except for the City of Fairfax, the Town of Vienna, and the area east of State Route 123. In Wisconsin: Blue Cross Blue Shield of Wisconsin (BCBSWI) underwrites or administers PPO and indemnity policies and underwrites the out-of-network benefits in POS policies offered by Compcare Health Services Insurance Corporation. Compcare underwrites or administers HMO or POS policies. Independent licensees of the Blue Cross and Blue Shield Association. Anthem is a registered trademark of Anthem Insurance Companies, Inc.
CA: Anthem Blue Cross is the trade name of Blue Cross of California. Independent licensee of the Blue Cross Association. Anthem is a registered trademark of Anthem Insurance Companies, Inc.
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