What is Critical Illness insurance?

Critical Illness coverage is a supplemental insurance plan that pays a lump-sum cash benefit directly to you if you’re diagnosed with a serious condition such as a heart attack, stroke, or cancer.

You can use the money however you need — to cover medical bills, replace lost income, pay deductibles, or simply keep up with household expenses while you recover.

How does Critical Illness work?

If you’re diagnosed with a covered condition, you receive a one-time cash payout (for example, $10,000–$50,000). You decide how to use it — no receipts or approval required.

Typical covered conditions include:

• Heart attack or stroke
• Cancer diagnosis
• Organ transplant
• Kidney failure
• Coronary bypass surgery

Some plans also include coverage for recurrence of an illness or for spouses at a small additional cost.

Why people add Critical Illness coverage

Even with Medicare, a serious diagnosis can trigger major out-of-pocket costs:

• High deductibles and copays from hospitalizations or treatments
• Medications or specialists not fully covered
• Travel or lodging for specialized care
• Time off work for you or a caregiver

Critical Illness coverage provides immediate, flexible cash so your finances don’t become another stress point during recovery.

How much does it cost?

Premiums are typically $15–$40 per month, depending on your age, benefit amount, and health history. Because the benefit is paid directly to you, there are no networks or deductibles.