If you were to become seriously ill due to cancer, heart attack, or Alzheimer’s, you may be burdened with financial concerns. Purchasing critical illness insurance can help you deal with the financial burdens that may come with a critical illness diagnosis. It can offer much needed monetary support by providing a lump-sum payment that you can use. For critical illness insurance in Woodbridge, count on Ken Maynard Insurance Brokers Ltd.
Anyone suffering from a severe illness can make a claim critical illness insurance. Individuals with a pre-existing condition or illness are not eligible to purchase coverage. The diseases and illnesses that are typically covered in this type of insurance include:
Critical Illness Insurance offers a considerable tax-free amount for your recovery. You can spend the money to pay for your medical treatment, nursing, or to pay off your mortgage. Once recovered, you are entitled to collect the entire benefit.
If you are diagnosed with a severe medical condition that the policy covers, you can make a critical illness insurance claim. You will receive the payment after 30 days of approval, and once you have been paid out your policy ceases.