Is Critical Illness Insurance Worth It?

This scenario can apply to a wide variety of critical illnesses. Strokes are a common condition that may fall into the critical illness category.¹ When life throws you a curveball, Aflac’s critical illness can help you and your family financially navigate the newfound care needed.

What is Critical Illness Insurance?

Critical illness insurance is a type of policy that provides additional coverage in emergencies and certain life-changing events. With critical illness insurance, a lump-sum payment is typically provided when a policyholder experiences a covered illness.

These plans can be particularly helpful if your primary health insurance coverage leaves you with gaps in coverage. Luckily, critical illness insurance usually comes at an affordable rate, allowing the benefits to outweigh the costs.¹

Benefits of Critical Illness Insurance

There are a few unique characteristics that make it worth it to buy critical illness insurance:

• Flexibility: Usually, critical illness insurance plans pay a lump sum that can be used for a variety of needs, as long as the illness is covered. This means you can use the lump sum for medical bills, mortgage payments and everyday expenses.¹
• Affordability: The cost of critical illness insurance plans is typically inexpensive. Rates are calculated using a formula that includes the age of the insured per dollar amount of coverage.²

Critical Illness Insurance Coverage

The benefits of each critical illness insurance policy vary from company to company. At Aflac, critical illness insurance is offered to individuals on a direct basis and also to employees through payroll deduction.

If the illness experienced is covered in an Aflac critical illness plan, we pay out a lump-sum payment to be used as needed. This means you can use the lump sum to help pay for medical bills or everyday expenses, like groceries and electricity bills. This functionality can make critical illness insurance coverage worth it— even if your primary health plan already offers solid medical coverage.

Aflac’s critical illness insurance may also help cover dependent children under the age of 26 and spouses, if applicable. Depending on the plan you choose, you may be able to receive coverage for first-time events and second-time occurrences of the same critical illness.

Depending on your location and plan type, coverage may also help you pay for hospital stays, ongoing care or intensive treatments. We recommend chatting with an agent to review your insurance options.