Critical Illness (CI) insurance is designed to help you handle unexpected medical and non-medical expenses associated with a serious condition. When coupled with your primary health insurance, it can to help with excess costs that are not fully covered. While anyone can benefit from Critical Illness insurance, some may need coverage more than others:

1. Those with high-deductible health plans. If you have a health insurance plan with high out-of-pocket costs or don’t have a sufficient emergency fund to pay for unexpected medical bills, CI insurance can prevent you from dipping into your savings to meet your health insurance deductible and other expenses.
2. Those who don’t have Disability insurance. CI Insurance can be an affordable form of income protection for people who aren’t eligible for Disability insurance. Think stay-at-home parents, freelancers, and those working part-time. There’s also no waiting period for CI benefits, which sets it apart from Long Term Disability insurance, which generally has a three-month waiting period before benefits kick in.
3. Those with a family history. If you have a family history of a serious condition like heart disease, CI insurance may be a good idea. While most CI plans don’t cover pre-existing conditions diagnosed before your policy was purchased, CI insurance can provide you with the emotional security of knowing you’ve got a financial safety net should you eventually need it.

CI insurance from the Prudential Insurance Company of America is affordable—a 35-year old can purchase a $30,000 CI policy for just $16 per month. It can supplement your existing health insurance without raising your overall health insurance costs significantly. Premiums do increase as you age, so it’s a good idea to apply for coverage as soon as you identify a need for it.

Learn more about CI insurance.

1072465-00001-00