The Benefits of Critical Injury and High Risk Insurance

If you suddenly become seriously ill, you’ll have many concerns; the biggest one may be: “How will I pay for everything?”

Even with health insurance, some expenses won’t be covered. However, there’s a solution: supplemental high-risk and critical injury insurance, a supplementary policy to your health insurance that provides cash benefits to you if you develop a serious illness. Supplementary coverage would kick in after your health insurance is exhausted. Considering healthcare costs, that’s not difficult to do, and it’s easier than you might think to be bankrupted by health care costs.

Whether you need it is based upon what you want to be prepared for and what assets to protect, such as home or investment products. Not only can it help cover medical expenses and care, it can also help cover your mortgage and other bills if you become ill and are suddenly faced with loss of income from serious illnesses such as

  • Cancer
  • Stroke
  • HIV/AIDS
  • Cardiovascular disease
  • Blindness

Other illnesses or injuries may be covered, too, such as major burns, so read your policy carefully, as not all cover the exact same things. Additionally, a covered illness could still have limitations. For example, some policies only cover HIV if it was contracted through an organ transplant or blood transfusion. Other limits could include things such as policy payout limits or diagnostic expenses. If you don’t get sick often and you have savings it may be good for your peace of mind.