Critical illness insurance lets you pay off your debts and eliminate your financial worries as you heal. If you’re afflicted by one of the many conditions covered by your contract, you’ll receive a lump sum to replace your income or that of your caregiver spouse. Coverage can amount to over $2 million and can convert to long-term care insurance.
There’s also critical illness insurance without a medical exam, with coverage of up to $50,000. Most of these policies cover seven serious illnesses, including cancer, heart attack, stroke, aortic surgery and vital organ transplant.
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