Prime Eight crucial sickness insurance coverage suppliers within the US


A 2019 study published by the American Public Health Association found that medical bankruptcies remain a widespread problem in the country despite the implementation of the Affordable Care Act.

Previously, a survey conducted by the Kaiser Family Foundation and the New York Times found that more than a quarter, or 26%, of US adults had difficulty paying medical bills, with about a million going bankrupt each year due to insurmountable medical costs.

A major contributing factor to this problem is the assumption by most people that standard health insurance can provide complete protection. In reality, however, the cost of treating life-threatening diseases is often higher than traditional health insurance can cover.

According to the Kaiser survey, the most common cause of medical debt is the unexpected refusal to pay by a health insurance company. This is where serious health insurance comes into play. This supplementary insurance product covers the deductible for medical expenses that traditional health insurance does not cover.

What does serious health insurance cover?

Critical Illness Insurance, also known as Catastrophe Insurance or Specified Health Insurance, provides protection in the event that a policyholder suffers a medical emergency due to a named illness. Some medical conditions and procedures covered by the guidelines include:

  • Accidental brain damage
  • amputation
  • Angioplasty
  • arthritis
  • cancer
  • coma
  • Connective tissue diseases
  • Coronary bypass
  • dementia
  • Heart attack
  • Kidney failure
  • Loss of vision or hearing
  • multiple sclerosis
  • Organ transplant
  • paralysis
  • Parkinson’s disease
  • Bad burns
  • stroke

Most policies pay out a lump sum that the policyholder can use to compensate for lost wages or treatment costs. The payout can also be used for specialty drug and non-medical expenses, including mortgages and groceries. Some insurance providers also give the insured the option to receive monthly payouts that they can use while recovering.

How much does serious health insurance cost?

There are several factors that determine the premium prices for critical illness insurance. This includes a person’s age, gender, medical history, and general health. The level and scope of protection also affects the cost of the policy. Insurance tariffs can also vary depending on the state.

What are the typical exclusions?

Although the exclusions vary from policy to policy, most do not cover chronic illnesses or illnesses diagnosed in the last year. Also, some policies do not offer coverage for non-invasive cancer. Insurance companies do not pay benefits for injuries caused by self-harm or illegal activity. Some policies can also terminate coverage or charge higher premiums when the insured reaches a certain age.

Serious illness insurance usually has a validity date of 90 days after the policy was taken out. Limits and exclusions often include a 12-month waiting period if the policyholder had a previous illness at the time the insurance was taken out.

The main insurance providers in the USA

To find out which major US insurance providers have the best deals, the health and wellness information website Verywell Health reviewed 20 companies’ policies, taking into account coverage, monthly payments, duration of benefits, how soon the plan starts, payout terms, and financial Stability. The site also took into account nationwide availability and ease of use. These are the ones who prevailed. The list is in alphabetical order, with all numbers correct as of November 2021:

1. Aflac

  • Coverage Options: $ 10,000 to $ 100,000
  • Policy type: lump sum
  • Conditions covered: coma, end-stage kidney failure, myocardial infarction, hemorrhagic and ischemic stroke, paralysis
  • Monthly Premium: Offers not available online

Aflac offers customizable insurance coverage that allows customers to add multiple passengers, including a lump sum for cancer drivers and a premium refund driver that pays the full amount for policies held for at least 20 years for as long as no claims are made be made. The insurer also offers a follow-up critical illness benefit, which covers illnesses identified 180 days after the initial diagnosis. However, one of the main drawbacks is the inaccessibility of company policies in some states, including New York, New Jersey, Virginia, and Idaho.

Continue reading: Aflac signs agreement to acquire Zurich North America’s group benefits business

2. AIG Direct

  • Insurance Options: Up to $ 500,000 of custom insurance coverage
  • Policy type: lump sum
  • Conditions Covered: Coma, Invasive Cancer, Stroke, Heart Attack, Kidney Failure, Severe Burns, Paralysis, Loss of Vision, Major Organ Transplant, Loss of Independent Life
  • Monthly Premium: Offers not available online

AIG Direct offers one of the highest coverage among Verywell Health-rated companies. However, for policies with high coverage, the insurer requires customers to provide medical tests, including blood counts and urinalysis, which is not required for policies below $ 100,000. Customers can also choose to add a power upgrade or an accidental death and dismemberment driver, though that can limit coverage to $ 150,000. For healthcare professionals, a healthcare worker HIV rider is available to cover accidental HIV infection due to their work.

3rd breeze

  • Insurance options: $ 5,000 to $ 75,000
  • Policy type: lump sum
  • Conditions covered: heart attack, coronary artery bypass surgery, angioplasty, stroke, invasive and non-invasive cancer, kidney failure, major organ transplants, advanced Alzheimer’s disease, paralysis, coma
  • Monthly Premium: $ 59.40 for a maximum of $ 40,000 for a 45 year old male, may vary by state

The main advantage of Breeze is the simplicity of the application process. Customers can apply for coverage online, which takes around five minutes. Customers can also make claims online. However, the company’s policies do not extend to anyone over the age of 60.

4. Guardian life

  • Coverage Options: Up to $ 50,000
  • Policy type: lump sum
  • Conditions Covered: 30 major diseases including stroke, heart attack, Parkinson’s disease, cancer
  • Monthly Premium: $ 44.46 for a maximum benefit of $ 20,000 for a 45 year old non-smoker, may vary by state

Guardian Life offers both first occurrence and recurring payment to individuals and businesses. The insurer’s critical illness insurance policies also have no waiting times. Complaints will be processed within seven days, provided the correct documents are presented.

Continue reading: Guardian Life Provides $ 500,000 to Help Fight Coronavirus

5. Liberty Mutual

  • Insurance options: $ 10,000 to $ 50,000
  • Policy type: lump sum
  • Conditions Covered: Cancer, Coronary Artery Bypass Surgery, Heart Attack, Organ Transplant, Stroke
  • Monthly Premium: $ 33.10 for a maximum of $ 40,000 for a 45 year old male, may vary by state

Liberty Mutual offers customizable major illness insurance policies at low premiums. Policyholders also have the option to add dependents, including spouse, partner, or child. However, a disadvantage is the limited types of disease. The insurer also does not provide coverage for pre-existing conditions diagnosed within six months of taking out the policy, which has a 30-day waiting period.

Continue reading: Liberty Mutual promises to reduce greenhouse gas emissions

6. MetLife

  • Coverage Options: $ 15,000 or $ 30,000
  • Policy type: lump sum
  • Conditions Covered: 22 serious diseases including heart attack, stroke, kidney failure, Alzheimer’s disease, major organ transplant, certain cancers
  • Monthly Premium: Offers not available online

MetLife’s Serious Illness Policy is offered to employers only. However, the insurance coverage is transferable if the employee decides to terminate. Policyholders also have the option to add dependents. MetLife offers guaranteed admission for active employees and does not provide for any waiting times.

Continue reading: MetLife Commits to $ 500 Million Impact Investments

7. Omaha Reciprocity

  • Coverage Options: $ 10,000 to $ 100,000
  • Policy type: lump sum
  • Conditions Covered: Internal Cancer, Heart Attack, Stroke, Alzheimer’s Disease, Large Organ Transplant, Blindness, Paralysis, Deafness, Kidney Failure, Coronary Bypass Surgery, Coronary Angioplasty Surgery
  • Monthly Premium: Offers not available online

Mutual of Omaha offers policies that are suitable for those with high deductible health insurance that often help policyholders cover what is on the order of $ 10,000. The insurer also offers separate cancer, heart attack, and stroke policies that are less expensive than its comprehensive major illness policies.

8. United Healthcare

  • Insurance options: $ 10,000 to $ 50,000
  • Policy type: lump sum
  • Conditions Covered: 14 Types of Critical Illnesses Including Heart Attack, Stroke, Hearing Loss, Major Transplant, Coma, Kidney Failure
  • Monthly Premium: $ 66.66 for $ 40,000 maximum benefits for a 45 year old male, may vary by state

UnitedHealthcare offers life-long insurance cover for critical illnesses, but the maximum benefit is reduced by 50% as soon as the policyholder turns 65. The policies can also be extended until the insured person turns 70. The insurer can then continue or terminate the insurance cover. UnitedHealthcare policies are not available in Georgia, New Jersey, Virginia, or the District of Columbia.

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