3 Reasons Why You Need Critical Illness Insurance

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Even if you are young and healthy, critical illness insurance can provide financial protection in the event you are diagnosed with a serious health issue later in life.

Critical illness insurance can give you peace of mind knowing that you can have financial support to recover from your illness, support your family as you undergo any medical treatment needed, and use any remaining funds as you wish.  

Relieve financial stress from lost wages

If you experience a sudden heart attack or stroke, receive a cancer diagnosis, or face serious health issues, you might lose the ability to go to work and earn an income. This will lead to lost wages, and combined with any medical bills you may face, your emergency savings can dwindle very quickly.

Critical illness insurance provides a lump sum of cash benefits that you can use to help make ends meet while you are recovering. You can use the policy benefits to cover your mortgage payments, utility bills, medical bills and more.

Pay for medical bills

Did you know that medical bills are one of the biggest factors that cause of bankruptcy in the United States? A report from the Kaiser Family Foundation/New York Times Medical Bills Survey reported that debt from medical treatments caused one million adults to declare bankruptcy in 2015. Additionally, the  study found that 26% of Americans struggled to pay their medical bills, and as a result, around 60% of people had difficulty paying other bills as a result of their medical debt.

On top of the physical and emotional stress that comes with any diagnosis, adding on financial stress can make this situation even harder. That is where critical illness insurance comes in – having a lump sum of cash to cover these payments can provide much needed relief. You can also use this sum to pay for treatments that your health insurance wouldn’t cover, such as experimental treatments.  

Protect your future 

Critical illness insurance helps you protect your future to ensure that you are prepared for whatever life brings. Having this insurance throughout your lifetime can give you peace of mind knowing that you and your loved ones will be financially protected if the unexpected were to happen.  

Get critical illness insurance with Quility in a few simple steps

If you’d like more information about critical illness insurance, Quility’s licensed insurance advisors are just a click away. If you are ready to get coverage now, our advisors can shop around from more than 80 of the top insurance companies to help you find the most affordable and comprehensive plan available. Fill out our short form to connect with a licensed agent today to get started!

Let’s Get Started

Get a plan in place in a few simple steps with a Quility insurance advisor.

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Calie Brummer
Head of Digital Communications
Calie Brummer is a staff writer and Head of Digital Communications at Quility Insurance with a focus on financial well-being and life insurance solutions.