EXTRA INCOME WHEN I NEED IT
I work part-time for a little extra cash in my retirement years. If come down with something major and can't work, this policy will give me that little extra income to help make ends meet.
Critical illness is an insurance solution that will provide a lump sum cash payment to you. If you are diagnosed with one of the designated illnesses or experience one of the episodes as listed in the policy, you will receive a cash payment. Imagine if you had a part-time job but had a stroke, heart attack, or organ transplant. You would not be able to work for some time. The critical illness plan can provide a source of income at a time of need.
The cash payment is paid directly to you, not to the provider. You can use the funds for anything - pay your copay, buy groceries, pay rent, buy prescriptions, pay a utility bill...whatever. Sometimes a critical illness plan can bridge the financial gap between your responsibility and out-of-pocket expenses on Medicare Advantage or Medicare Supplemental policies.