So when you see the option for critical illness insurance in your employee paperwork, you may be tempted.
But what exactly does this extra coverage actually cover?
And is it worth it?
What Is Critical Illness Insurance?
Given that they start as low as $25 per month, it may sound like a no-brainer.
After all, these bogeys are called dread diseases for a reason.
Even with traditional insurance coverage, annual limits and astronomical costs mean a major illness can bankrupt a family.
In fact, medical expenses are theleading cause of bankruptcy filingsin America.
No Interest Til Almost 2027?
Which, as it turns out, it may not.
Is Critical Illness Insurance Worth It?
Benefits are only paid out if your disease meets certain coverage circumstances.
That said, these plans are sometimes offered for very low rates, especially through the workplace.
Be an educated consumer and read the fine print, said Dann.
Well, for one thing, you might consider bulking up your traditional health insurance policy.
However, youll need to be enrolled in a high-deductible health plan, or HDHP, to qualify.
Unfortunately, theres no easy answer to the American healthcare problem for now.
Learn more at www.jamiecattanach.com.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…