When deciding if you should get critical illness insurance or not, it can be helpful to visualize a scenario.
Let’s say you experience a situation where you may benefit from having critical illness insurance coverage, like a heart attack. The hospital bills, immediate procedures and ongoing medications can quickly add up to thousands of dollars. Having an affordable critical illness insurance policy before an event like this happens can help bring the cost down.
This scenario can apply to a wide variety of critical illnesses. Strokes are a common condition that may fall into the critical illness category.1 When life throws you a curveball, Aflac’s critical illness can help you and your family financially navigate the newfound care needed.
Critical illness insurance is a type of policy that provides additional coverage in emergencies and certain life-changing events. With critical illness insurance, a lump-sum payment is provided when a policyholder experiences a covered illness.
These plans can be particularly helpful when your primary health insurance coverage leaves you with gaps in coverage. Luckily, critical illness insurance usually comes at an affordable rate, allowing the benefits to outweigh the costs.1
There are a few unique characteristics that make it worth it to buy critical illness insurance:
The benefits of each critical illness insurance policy vary from company to company. At Aflac, critical illness insurance is offered through employee payroll and classified as a group insurance plan.
If the illness experienced is covered in an Aflac critical illness plan, we pay out a lump-sum payment to be used as needed. This means you can use the lump sum for medical bills or everyday expenses, like groceries and electricity bills. This functionality makes what critical illness insurance covers worth it—even if your primary health plan already offers solid medical coverage.
Aflac’s critical illness insurance may also help cover dependent children under the age of 26 and spouses, if applicable. Depending on the plan you choose, you may be able to receive coverage for first-time events and second-time occurrences of the same critical illness.
Hospital stays, ongoing care and intensive treatments may also be covered depending on your location and plan type. We recommend chatting with an agent to review your insurance options.
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There are a handful of situations where critical illness insurance may be particularly worth it for you:
Critical illness insurance covers a specific list of life-changing events. If you have a family history of these illnesses, critical illness insurance may be particularly worth it. With affordable rates, you can help provide yourself with peace of mind and financial protection if an emergency were to strike.
As an employer, you can help your employees feel safe by offering them additional support if a critical illness impacts their ability to work. The more employees feel supported, the more capable they are of making meaningful contributions to their companies. Discover how you and your employees can work together better with Aflac Critical Illness Insurance.
1 Investopedia - Critical Illness Insurance: What Is It? Who Needs It? Updated March 13, 2022. Accessed February 5, 2024. https://www.investopedia.com/articles/personal-finance/010416/critical-illness-insurance-who-needs-it.asp.
Coverage underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York. In Arkansas, Policies A73100AR & A7310HAR. Policies B71100AR & B7110HAR. Policies A71100AR & A71200AR. Policies A74100ARR, A74200ARR, A74300ARR. In Delaware, Policies A74100DE, A74200DE, A74300DE. Policies B71100, B71200, B7130H & B7140H. Policies A71100DE & A71200DE. In Idaho, Policies A74100ID, A74200ID, A74300ID. In New York, Policy NY72100. In Oklahoma, Policies A74100OK, A74200OK, A74300OK. Policies A73100OK & A7310HOK. Policies B71100OK & B7110HOK. Policies A71100OK & A71200OK. In Oregon, Policies A73100OR & A7310HOR. Policies B71100OR & B7110HOR. Policies A71100OR & A71200OR. Policies, A74100OR, A74200OR, A74300OR. In Pennsylvania, Policy A73100PA & A7310HPA. Policies B71100PA & B7110HPA. Policies A71100PA & A71200PA. In Texas, Policies A73100TX & A7310HTX. Policies B71100TX & B7110HTX. Policies A71100TX & A71200TX. Policies A74100TX, A74200TX, A74300TX. In Virginia, Policies A74100VA, A74200VA, A74300VA. Policy A73100VA. Policies A71100VA & A71200VA.
Coverage underwritten by Tier One Insurance Company: In Delaware, Policy T71000. In Oklahoma, Policy T71000OK. In Virginia, Policy T71100VA. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (Tier One NAIC 92908).
This is a brief product overview only. Coverage may not be available in all states including but not limited to DE, ID, NJ, NM, NY, or VA. Benefits/premium rates may vary based on plan selected. Optional riders are available at an additional cost. The policy has limitations and exclusions that may affect benefits payable. Refer to the policy for complete details, limitations, and exclusions. For costs and complete details of the coverage, please contact your local Aflac agent.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Aflac WWHQ | Tier One Insurance Company | 1932 Wynnton Road | Columbus, GA 31999
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