Supplemental Health
What is critical illness insurance and how does it work?
Critical illness insurance pays a lump sum cash benefit directly to you when you're diagnosed with a covered serious illness — typically cancer, heart attack, stroke, kidney failure, or major organ transplant. The payment is made on diagnosis, not based on medical bills. Cash paid directly to you — use it for anything. Typically costs $50–$100/month for a $50,000 policy for a 45-year-old.
Key Points
- Pays a lump sum on diagnosis — not based on medical bills
- Covered conditions typically include cancer, heart attack, stroke, kidney failure, organ transplant
- Cash paid directly to you — use it for anything
- Pays in addition to health insurance — no coordination of benefits
- $50,000 policy for a 45-year-old: approximately $50–$100/month
- Covers the indirect costs health insurance doesn't: lost income, travel, childcare