A friend of mine that lives in Canada recently told me about Critical Illness insurance. She is buying a policy that covers 26 conditions and that will allow her to get all her premiums returned to her if she doesn't use it by 65.
Anyone know anything about this type of insurance? I've done some searches on it, and it looks like Met Life sells a policy that will cover a handful of illnesses. I'm just wondering if buying something like this might be worth it. If hubby gets really sick and cannot work for an extended period of time, it would be nice to have an influx of cash without hitting savings.
Hubby has disability, and accidental death, and two life policies.
I am intrigued by the idea of a policy that pays out a limp sum to be used on whatever if you get really sick. My hubby isn't a very fit man, and his dad as cancer, so there is a chance something might happen to him.
J.:
Sounds like AFLAC. Check into it and see if it's right for you.
I don't have this type of insurance. So I can't tell you anything from a personal experience. I know a carpenter who has AFLAC. he was injured on the job and it took a while - but they ended up taking care of him and his family.
I wish I could give you more information.
Good luck!!
J., my husband has sold Aflac for the last 13 years and is consistantly in the top 10 agents in AZ. They are #1 in supplimental insurance. Contact a local agent and they can help you. Good luck.
Look into Long Term Care Insurance, and a Short Term and Long Term Disability policy. I know State Farm provides these, and I'm assuming others like Allstate and Nationwide do as well. If you have an insurance company for your home and car that are full service insurance companies, than they maybe able to provide you something and at a discount because you have other policies with them.
we have supplemental insurance thru Colonial. We used to use Aflac.
None of our programs offer a return on our $$. 1st time for me on this one!
& as for the supplemental, it can be costly. Our monthly income policy just covers our medical insurance premiums....which my husband's employer does not pay if my husband is out sick/recovering from surgery/etc. It's our responsibility to pay full premiums....which totally sucks. At the time we need it most, we're hit the hardest financially. (sigh)
disability insurance (short term and long term) can be a good thing.
so if hub cant work you do have income. some employers provide that coverage.. and if you are disabled permanently social security does kick in.
I dont think critical illness insurance is a good deal. the illnesses are rare.. and most people wouldnt use the policy and if the company gets to keep your money till you are 65,... they can earn a lot of interest on it by then.
It sounds like a disability policy except the return of premiums if not used.
