Critical Illness insurance (CI) is a contract for which the insurance company must pay a lump sum benefit amount to the insured in the event he/she is diagnosed with a critical condition as described in the policy contract provided that the insured survives 30 days from the diagnosis.
Each CI policy contract is worded differently:
What are the critical conditions covered by the policy?
Are the definitions based on sound and fair medical parameters?
Can I collect Long Term disability benefits IN ADDITION to the Critical Illness lump sum benefit amount? >> The answer to this question is always YES, you can collect the benefit from BOTH policies!
