CATASTROPHIC ILLNESS INSURANCE

Insurance protecting the insured in times of indicated major health events for a specific time period. Normally a lump sum, the coverage can be partial or full depending on the holder’s health condition and the policy’s terms. Certain conditions include, but not limited to, cancer, heart attack, long-term hospitalization, and stroke. This can be utilized to supplement a beneficiary’s existing disability and health coverage. Restrictions vary from one individual to another. However, claims will be rejected due to the following: prevailing conditions, not surviving 30 days following the diagnosis, and any critical diagnosis within the initial 90-day period.

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