Critical Illness Plans (CI) - provides living benefit coverage upon the diagnosis of a critical illness regardless of treatment, actual expenses or other insurance coverage. Critical Illness coverage generally pays a lump sum if you are diagnosed with a specifically listed illness. These usually include:
Cancer Heart Attack
Stroke Renal Failure
Major Organ Transplant Terminal Illness
Total Disability Major Surgery
HIV - from transfusion Angioplasty
Multiple Sclerosis Parkinson's Disease
Major Burns Coma
These create a "Stop Gap Plan" between the financial risks of disability and death. The benefits are generally paid tax-free. It should be noted that most critical illness victims make a full recovery after a lengthy expensive treatment period. Long Term Care Insurance (LTCI) is often to restrictive and inflexible.