Critical Illness- This product was created to provide cash at a time it is needed the most. The financial consequences of surviving a critical illness is something few people are prepared for. This specialized insurance provides a lump sum tax free payment when an individual is diagnosed with a covered condition.
The three primary conditions are:
1) Cancer, 2) Heart Attack, 3) Stroke.
The policy also covers additional conditions. 1.4 million Americans are diagnosed with cancer each year, 785,000 will have their first heart attack and 600,000 will have their first stroke all of which the majority will survive.