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Is critical illness insurance worth it?

While critical illness insurance may be worth it for certain people with high-deductible health insurance, you may be better off putting the money toward a regular disability insurance policy instead since it covers a wider range of illnesses and injuries. Critical illness insurance pays out a lump-sum benefit if you have a serious illness.

How is critical illness insurance different from health insurance?

Critical illness insurance is also different from health insurance, which reimburses healthcare providers. With critical illness insurance, the money goes to you, and it’s yours to spend on medical or even non-medical expenses.

Does health insurance cover critical illness?

Your regular health insurance plan covers the costs of your healthcare. If you’re diagnosed with a critical illness, you can also file a claim with your critical illness insurance company. Your critical illness insurance company provides a lump sum payout up to your policy’s coverage limit.

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