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How to Find, Compare and Buy Critical Illness Insurance Online

Healthy Lifestyle, Money Saving| Views: 1403

It’s often a challenge to figure out how to find, compare and buy critical illness insurance online, but don’t worry – can help you with that! In this post, we answer a few questions about finding critical insurance online, so read on for a few things you may not know.

What is critical illness insuranceCritical illness insurance is coverage designed to help fill in the coverage gap for people who have diseases that typically involve high costs. The coverage gap is often a result of health insurance products that impose upon patients:

  • High co-payments,
  • High co-insurance,
  • High deductibles,
  • Significant non-medical expenses and other out-of-pocket expenses

Critical illness insurance premiums are generally affordable, although the price varies based on factors such as whether you are a tobacco user or not. Critical illness insurance premiums available from companies contracted with Emerge start at a low of $16 per month, a very small price to pay for peace of mind that you won’t break the family budget when needing to pay a high deductible or the many out-of-pocket costs that arise in the even of a covered illness. Most employers don’t offer critical illness coverage. Those that do consider it a voluntary benefit, provided at a discounted premium but not considered an employer benefit.

What kinds of illnesses does critical illness insurance usually cover? We are talking serious, life-threatening illnesses here:

  • Cancer
  • Heart attack
  • Stroke,
  • Kidney failure
  • Organ transplants
  • Coronary bypass surgery, just to name a few

Critical illness insurance provides coverage for specific and generally very expensive illnesses. For example, critical illness health insurance would not cover diabetes but will cover Amyotrophic Lateral Sclerosis (ALS, or Lou Gehrig’s Disease). That’s because the industry’s critical illness coverage revolves around acute illnesses, not chronic ones. It’s important to make sure you know the limitations and restrictions that apply to your policy.

Also, remember to carefully review what your underlying health plan covers and the illnesses your critical illness coverage will apply to. When comparing policies, pay attention to the fine print. Even though a policy may say an acute illness is covered, some policies reduce coverage as a person ages. Other policies cover fast-growing cancers but not localized or slow-growing cancers. Make sure the coverage you buy covers what you expect it to cover.

Do I need critical illness insurance if I already have regular health insurance? Yes – and you can verify this for yourself using our free supplemental insurance recommendation engine. If we didn’t say it clearly enough, we’ll say so now: Most Americans have little personal savings to help with their share of the expenses of a critical illness. At the end of the day …

  • Most health insurance plans still leave patients with sizeable out-of-pocket expenses related to treatments for critical illnesses.
  • Eighty percent of bankruptcies in the U.S. relate to out-of-control medical costs – and many of those are people with health insurance coverage. Unpaid medical bills are the primary reason for bankruptcies here in the U.S.

So yes, most people need a supplemental health insurance plan of some kind to help pay their medical expenses, especially if they don’t have significant savings set aside to cover those expenses.

How can I find and compare the best critical illness insurance policies online? Searching online through individual websites to find the best of any kind of product is labor intensive, time-consuming, and frustrating. People are often so frustrated they quit before they find what they need. That experience holds true for searching online through individual carrier websites for the best critical illness insurance. Often times you must then speak to an agent and exchange many emails and calls – a process that potentially might take weeks. There is a better, smarter, and quicker way to research and purchase supplemental insurance online.

  • works as the search engine that helps you search and compare policies from multiple insurance carriers.
  • provides unbiased and transparent information and advice.
  • You can find user-friendly, free tools like the Affordability Calculator and the Premium Estimator on the homepage.
  • makes your search so much easier because it has all the information you need to make a smart decision all in one place.

Emerge functions as a digital insurance broker. Our virtual insurance adviser is named Max, and he offers recommendations based on your answers to some important questions.

  • Neither Max nor Emerge are directly affiliated with any particular insurance company.
  • The advice you get from Max and Emerge is transparent with respect to costs, policy restrictions, and limitations.
  • Emerge gives advice regarding a wide range of carriers and policies.

Emerge is the first virtual advisor to digitize the entire supplemental insurance policy-buying experience. Emerge takes the guesswork out of deciding what you need to cover your risk.

How is critical illness insurance different from regular health insurance? Critical illness insurance is not meant as a substitute for your primary health insurance. Most people use it as supplement to primary health insurance. Many people with supplemental insurance find value in the fact that critical illness coverage pays for what your health insurance does not – such as the deductible, out-of-pocket costs, and non-medical costs like travel for care, lost wages, out-of-network doctors, and rehabilitation.

What is lump sum critical illness insurance? When you receive a diagnosis of a critical illness covered under the policy, the plan pays you directly in cash the maximum coverage amount that you chose for your policy – an amount that typically ranges from $10,000 to $60,000. And the plan pays this money directly to you for you to use as you see fit, for medical or non-medical expenses that result from a critical illness. There is no need to submit receipts.

Who do critical illness policies cover? You, your spouse, dependent children, and domestic partners are all eligible for coverage under your critical illness policy through Emerge.

Can I buy critical illness insurance online? Absolutely. When you visit the homepage, you are able to request a quote for critical insurance coverage (as well as accidental injury insurance) directly from the quote screen. The entire process of requesting and receiving a quote request will take you less than a minute to complete. And there’s no medical exam required to get that quote.

How else can I get information on how to find or buy critical illness insurance? 

In additional to the insurance policy recommendation engine online there are also options to:

  • Live chat via the website.
  • Speak to a live, certified insurance broker – at no cost to you – by calling the toll-free number 888-487-2006.

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