I recently found out that due to my moderate Rheumatoid Arthritis diagnosis and the drugs I take for it, I will not be eligible to purchase a long term care policy because of the R/A risk factors. It appears my only feasible option at this time will be a critical care policy. Most of these policies cover less than an ltc policy covers, but they do cover most major illnesses such as cancer, heart attack, stroke & alzheimers. Depending on how much you want to pay for a premium (usually less than an ltc policy), the insurance companies offer a one time lump sum payout after you've been diagnosed with any of the covered illnesses. The money can be used to pay for just about anything you want, it doesn't necessarily have to go towards medical services.
My questions are this:
Does anyone here have a critical care policy?
What do you consider to be the pros and cons of this type of policy?
Any info is appreciated.
My questions are this:
Does anyone here have a critical care policy?
What do you consider to be the pros and cons of this type of policy?
Any info is appreciated.