What is Critical Illness Coverage?

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An insurance policy that pays you cash if you are diagnosed with a critical illness such as stroke, heart attack or cancer.

This example is for illustrative purposes only.

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Today’s question: What is Humana critical illness insurance?

The simple answer is when you are diagnosed with something serious like a heart attack, a stroke, or cancer, critical illness insurance pays you cash, which can help you pay for things like your regular household expenses, medical bills, or whatever you need.

If you're like a lot of people, critical illness insurance may be something you've never thought about before. You may also be wondering why you need it, especially if you already have regular health insurance. Doesn't that cover you in case you have a critical illness?

Here's the difference between your health insurance plan and a critical illness insurance plan.

Regular health insurance helps cover your medical bills – things like visits to your doctor, hospital bills and surgeries.

Humana critical illness insurance pays you when you're diagnosed, and you can use the money for whatever you need.

To make it easier to explain, let's meet Scott. Scott had a good job but things were getting pretty stressful at work. Scott also was worried about his personal finances – he and his wife were thinking about buying a new car and their oldest child was heading off to college in the fall.

Then, one day, Scott had a stroke. Luckily, Scott survived and suffered very few of the complications that often happen after people have a stroke.

However, his recovery was still going to take a couple months. His boss said he'd get his job back when he was better again, but his company couldn't pay his regular salary for the whole time he was going to be off work.

This is where Scott's Humana critical illness insurance came to the rescue.

Within a couple days of his stroke, Humana mailed him a check for the benefit amount on his policy and Scott was able to use that money for anything he wanted. He used it to pay his health insurance deductible.

He used it to buy groceries. He even used it to help pay for his daughter's college tuition that semester.

Getting cash to help pay for his bills was a very helpful benefit that Scott got from his Humana critical illness insurance policy. But, more importantly, he was less stressed about his finances so Scott was able to concentrate on getting better. And that was an even bigger benefit for Scott and his family.

So let's review the benefits of Humana's critical illness insurance:

  • Benefits are paid to you or the person you designate, not the hospital or doctor, in the amount of the full value of your policy in a single payment.
  • You can use the money for any purpose, like your health insurance deductibles and copayments, or mortgages, childcare, groceries, or credit card bills. Anything you need.
  • And some plans offer expanded coverage for other conditions like coma, occupational HIV, and paralysis.

So there's a quick overview of Humana critical illness insurance. It may be a great option for you. So, until next time, stay smart and stay healthy.