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Critical Illness Insurance
Critical illness insurance (also known as disease-specific insurance) is meant to ease the financial burden of a serious illness, such as cancer, heart attack, stroke, etc. These policies may provide a lump-sum cash benefit to help you pay for additional costs that are related to your illness but not covered by your regular health plan or disability coverage. Depending on the specific policy, the coverage can be used to pay for:
- out-of-network specialists
- travel and lodging when treatment is far from home
- experimental treatment, usually related to cancer therapy
- child care and household help
- normal living expenses, such as your car payment, utility bills, and groce
Accident Health Insurance
Accident health insurance (also known as an accident hospital indemnity policy) may pay for medical costs resulting from an accident that are not covered by your regular health insurance. Some of these policies may also pay for extended home healthcare services, travel, and lodging expenses for family members.