With the rising costs in insurance, many patients are forced to choose plans with high-deductibles. This can cause your out-of-pocket healthcare expenses to become unmanageable. The cash you receive from a critical illness insurance benefit can be used to cover deductibles, co-pays and any other out-of-pocket healthcare costs you incur.
2. To Pay for Expenses Not Covered by Health Insurance.
When diagnosed with a critical illness, many aspects of your life change. You are no longer able to do all the things you used to, you have to visit the doctor more often and new expenses are incurred. Along with the costs of the actual healthcare you're receiving, you also may have to pay for hotel stays, travel expenses, babysitting services and more! Rather than putting these extra expenses on a credit card and paying them off for years, critical illness insurance can cover these unexpected costs associated with critical illnesses.
When you're diagnosed with a critical illness, chances are you won't be able to work as much as you used to, or you may not be able to continue working at all. This is particularly important for those that are self-employed. While you may have a disability insurance benefit coming, there's typically a 90-day elimination period before you see any of that money. Critical illness can significantly impact your income, which could be critical for mortgage payments, car payments and other bills, not to mention food and gas expenses. The cash provided by the critical illness insurance policy can provide security when you're no longer bringing in enough income each month.
No matter how you choose to spend your critical illness insurance benefits, having the insurance is sure to reduce your financial stress! Talk to your local independent insurance agent at the Lake of the Ozarks today by calling 573-348-2794. Insure the Lake is here for all your Lake of the Ozarks insurance needs!
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About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.
Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral
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