What Is Accident And Critical Illness Insurance?

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2 responses to “What Is Accident And Critical Illness Insurance?”

1. 

   April 7, 2014

   James Elbaum

   Accident and Critical illness insurance are similar in structure, but cover different things.  Both policies will typically pay out a lump sum or up the benefit amount directly to the insured or a provider of their choice.  The difference however is that accident plans only cover medical expenses associated with an accident where as critical illness insurance pays lump sum upon diagnosis of a major critical illness.  Make sure to read the list of covered critical illness’ in the policy before purchasing.
2. 

   August 31, 2013

   Peggy Mace

   In the United States, Accident and Critical Illness Insurance generally refers to two different types of policies. The first, Accidental Death Insurance, pays a lump sum benefit to the beneficiaries of those who suffer accidental death. Critical Illness Insurance pays a lump sum benefit to the insured person who is diagnosed with a serious health condition.