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Critical Illness Insurance

When life throws a hurdle your way, be prepared.

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A serious event in one’s life such as an unexpected diagnosis or illness can have devastating effects. In many cases, it is also a moment when having monetary resources and insurance can be a game-changer.

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In the face of a major illness or unexpected diagnosis, critical illness insurance can help prevent a major setback.

Critical illness insurance, also known as critical illness coverage, can help eliminate financial stress during these difficult times. By paying out a lump-sum to the policyholder if he or she is diagnosed with a specific illness stated on an insurance company’s predetermined list, money is available immediately to be used how the policyholder deems necessary.

How it can help you

Because your policy’s payout is available to use how you desire, this money can be spent in a variety of ways, such as:

  • Paying for medical expenses not covered by health insurance
  • Using funds for the cost of in-home care
  • Lowering debt
  • Taking the vacation of a lifetime.

Some choose to use the money as a way to help maintain their current level of lifestyle while they take time off from work and undergo medical treatment. With endless options and flexibility, you can diminish financial strain and pay for the things that are most important to you.

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Facts to consider

Simply put, think of critical illness insurance as a financial resource with no boundaries. Unlike most disability insurance plans, there is no waiting period and you have the option to use the money in whichever way you choose. Available in both individual and group coverage options, eligibility is determined based on your gender, age, current health status, prior medical history and whether or not you are a smoker.

  • According to The Kaiser Family Foundation, if someone faces a critical illness before the age of 65, their chances of surviving are double their chances of dying.

  • According to a 2014 survey from the National Institute for Wellness Solutions, 55% of cancer survivors withdrew from their personal savings or investments to finance their treatment. In addition, 46% used credit cards for these expenses.

  • According to NerdWallet Health, medical issues were linked to approximately 57% of all personal bankruptcies.

A Few Words from Our Customers

“Thank you for your prompt and professional service!”

Charles Volk, MD

“I want to thank you for your help. Having a loved one in treatment is stressful enough; insurance coverage questions intensify the stress. The work you all do is so reassuring.”

Carole Morehead

“I want to take a moment to tell you how positive this experience has been. I truly appreciate the efficiency, communication and quick response.”

Brenda Magnuson, MD

"I really appreciate your help and support All of this becomes so complex and represents a daunting task for staying abreast of what’s happening and the implications. Your support is extremely helpful and much appreciated!”

Bill Burton, MD

Get complete coverage to go with your critical illness insurance.

TMA Insurance Trust provides comprehensive coverage for all of your personal insurance needs as a Texas physician. Consider exploring these related product types to ensure your coverage portfolio is complete.