How it works: You will receive a tax-free, lump sum cash payment upon diagnosis of one of your policy’s covered illnesses. In most situations you must survive 30 days from the date of diagnosis to collect your policy benefit amount. A few illnesses stipulate longer waiting periods before a claim is paid as it takes longer for medical professionals to positively diagnose these conditions.
While basic plans cover cancer, stroke, heart attack, and bypass surgery, comprehensive plans will cover basic illnesses plus over 20 of today’s more serious conditions. There is strict underwriting criteria – in addition to health and lifestyle practices, underwriters even consider family history.