Nestor Blumwald – Why You Need Critical Illness Insurance
April 23, 2019
My name is Nestor Blumwald and I am the founder of Infinite Insurance. Being involved for many years in the financial services industry as both a manager and a founder of my own insurance brokerage, I’ve come across a trend. This trend is the increase in the need for critical illness insurance.
What is Critical Illness Insurance?
Simply put, critical illness insurance is a form of health insurance that provides a large sum of money should you become very ill. Most noteworthy Types of illnesses vary of course, but they typically involve:
- Alzheimer’s
- Blindness
- Cancer
- Heart Attacks
- Organ Transplants
- Kidney Failure
- Paralysis
- Strokes
Coverage for these types of illnesses may vary depending on severity and expenses. For example, treating a very minor case of cancer that results in minimal recovery and downtime will likely yield a smaller claim than a severe case of cancer.
Additionally, coverage cannot be purchased for a pre-existing condition or illness. So make sure you are aware of this and that you carefully read your insurance policy!
Why do More People Need Critical Illness Insurance?
On average, people are living longer which is great news. However, living longer also implies and increases the chance of being diagnosed with a critical illness, and surviving it. Living through such a treatment process often leaves the people involved in critical financial hardships.
How do I know if I need Critical Illness Insurance?
You may be healthy and resilient and that you can beat any critical illness that may arise. You may be right as technology medicine evolve, more critical illnesses become less critical. However, financial stress and hardships are still very much a reality when surviving such illnesses!
If you found this article helpful and would like to know more about critical illness then please seek out Nestor Blumwald at Infinite Insurance or call directly at 416-720-7767
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