Critical Life Insurance – What Does Critical Life Insurance Cover?

Critical life insurance or critical illness insurance is a type of insurance that pays a lump-sum amount to the insured in case he is diagnosed to have a covered critical illness.  This gives rise to the question:  what is typically considered to be a critical illness?  Do all insurance companies look at certain illnesses the same way, or is one sickness considered critical by Insurance Company A but normal by Insurance Company B? Read more

Critical Life Insurance – What Do the Terms Mean?

When one says a man has a heart attack, we all know what that means.  When we hear that a middle-aged woman dies of cancer, we don’t ask a lot of questions; we know what cancer generally entails.  Unfortunately, the same thing does not apply when this man or the family of the woman files a critical life insurance claim.  Insurance companies ask a lot of questions.  A heart attack isn’t just a man collapsing and cancer is never just a case of deadly cells when you are dealing with insurance providers.

Claims assessment is typically based on the diagnosis of a professional medical practitioner.  Thus, it is crucial that both the insurer and the insured agree on the definition of each type of critical illness covered. Read more

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