Critical Illness Benefits can be Reimbursement type or Cash Back Lump Sum. They typically pay there benefit upon diagnosis of a Critical Illness such as a Heart Attack, Stroke, Organ Transplant, Etc. Once diagnosed the benefit amount is paid. The money receive from the Lump Sum Cash Back Plans can pay for the deductible on Major Medical Plans, Coinsurance or even to help with household expenses, mortgages, car payments. You may also us the money as income replacement if you are out of work.  

This Coverage is very beneficial for those ages 40+. the cost of this type of protection is minimal. Especially when you view the statistics of Critical Illness diagnosis as we age. This type of coverage is a generally very affordable, and statistically a good idea. Cancer coverage is a great plan to add to existing Major Medical plans, especially since so many plans today require PPO providers and usually have higher deductible. Cancer polices help fill the void for an affordable premium.

Most cancer policies today are Cash back, which means these pay the lump sun benefit upon first diagnosis. You can use the money however you wish. Most people who receive this benefit use the money to pay the deductible on their insurance, and use the money for other living costs.