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LICOA CRITICAL CARE INSURANCECritical Illness

What is Critical Illness Insurance?

A critical illness insurance policy provides a lump-sum cash benefit to you if you’re diagnosed with a critical illness. The critical illness benefit is triggered by covered serious health condition such as:

  • Heart Attack
  • Stroke
  • Kidney Failure
  • Cancer
  • Major Organ Transplant
  • Heart Surgeries

Why Do I Need Critical Illness Insurance?

Surviving a critical illness is becoming increasingly common with advances in medical technology. However, the costs of fighting these illnesses or keeping up with everyday bills can be more than most are prepared to deal with.

While you, or a covered family member, are being treated for or are recovering from a critical illness, there’s a good chance that you will be facing deductibles, co-pays, and even costs for travel and lodging. The security of knowing that you’ll receive a lump sum cash benefit from LICOA will allow you to concentrate on your recovery, not your finances.

With supplemental critical illness insurance, you’ll receive a lump-sum cash payment upon diagnosis of a covered condition. If you have a health plan, critical illness insurance will provide benefits in addition to your other coverage.

Do you need Critical Illness Insurance if you have other types of insurance?

Medical treatment is more advanced than ever, but it’s also more expensive. People today can experience financial hardship because of the expense their insurance does not cover.

Critical Illness Insurance is designed to help meet the additional expenses associated with a serious illness or condition. They may help pay some of your hospital and doctor charges, or even replace part of your lost income. You may use your critical illness insurance to help pay for other unexpected expenses such as:
  • Experimental treatment
  • Travel expenses to and from treatment
  • Out-of-network doctors and hospitals
  • Childcare and eldercare
  • Insurance deductibles and co-payments