Monday, October 22, 2018

Has anyone heard of critical illness insurance?

November 12, 2012 by  
Filed under Critical Illness Cover

critical illness cover
by PeterTea

Question by jamie m: Has anyone heard of critical illness insurance?

Has anyone ever used or benefited from ctitical illness insurance through Great-West Life insurance? I am thinking of getting it, I am a health male 38 year old in Canada?

Best answer:

Answer by lucia h
no, but is it bad

Add your own answer in the comments!

Comments

5 Responses to “Has anyone heard of critical illness insurance?”
  1. mbrcatz17 says:

    Yes. It’s stupid.

    It’s kinda like buying a car insurance policy, in case you get hit by a blue car. It won’t cover damage by red cars, white cars, black cars, or green cars.

    If you want coverage for an ILLNESS, buy health insurance. If you want a payout when you DIE, buy life insurance. If you buy coverage for ONE illness only, well, the chances that you’ll die of something else are HUGE. So it’s silly to insure yourself against only one illness. Like it’s silly to insure yourself against just blue car damage.

  2. jonesy634 says:

    I have seen several people benefit from this insurance (as I work at an insurance company that sells this product). It’s not just covering you against ONE critical illness though. Often times it covers many critical illnesses. Let’s say you have a critical illness policy that covers heart attacks, cancer and stroke…

    If you have a heart attack, the lump sum benefit is paid out for the heart attack. Then the heart attack portion of the policy is void. You can’t claim on the policy again if you have another heart attack. However, your policy is still in force so if 10 years later, you get cancer, another benefit is paid out.

    It’s really not a necessary coverage (then again, there’s A LOT of insurance that isn’t necessary)… but I have seen a lot of people benefit from it. Health insurance definitely won’t always cover all of the expenses incurred from any of these illnesses.

  3. vadde2007 says:

    iam not yet heard about this comp. but it is better to take this polocy as early as possible

  4. Surekha Parekh says:

    Jamie m,

    Yes, Great-West life does pay the coverage if you are insured for critical Illness.
    There is Critical Illness available though different insurance companies. Depend upon company to company the coverage for criticall illness coverge would differ.

    I am an Insurance Broker, I could compare companies coverage and premiums for you.

    If you need more information regarding Critical Illness insurace you could give me in detail infomation through email or phone 905 664 2844

    surekha_global@yahoo.com
    Surekha Parekh

  5. yaju says:

    i have no idea u will be find more details on
    http://www.insuranceplan4u.com

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