What does Critical Illness Insurance cover?
As determined by contracts, most comprehensive plans cover between 20 and 24 conditions in total. The most commonly occurring conditions, in terms of claims, are heart attack, stroke, and cancer.
Typically, comprehensive critical illness insurance policies cover most or all of the following conditions:
- Alzheimer's Disease
- Aortic Surgery
- Benign Brain Tumour
- Blindness
- Cancer
- Coma
- Coronary Artery Disease requiring surgery
- Deafness
- Heart Attack
- Heart Valve Replacement
- Kidney Failure
- Loss of Limbs
- Loss of Speech
- Major Organ Transplant Waiting List
- Major Organ Transplant Recipient
- Motor Neuron Disease (ALS/Lou Gehrig's Disease)
- Multiple Sclerosis
- Occupational HIV Injury
- Paralysis
- Parkinson's Disease
- Severe Burns
- Stroke
Types of Coverage
Renewable Term
Rates increase after the 10 or 20 year term period. The renewal rates are guaranteed in your contract and coverage expires at age 75. This type of policy may be convertible to level or permanent coverage within a specified period of time.
Level
Coverage to age 75 with a guaranteed level premium rate.
Permanent
Lifetime coverage with a guaranteed level premium rate.
