Catastrophic Insurance

We've all heard the nightmarish tales of people whose health insurance plans fell short of the costs associated with severe illnesses. A new diagnosis (for example, of cancer, heart disease, or Alzheimer's) can initiate a torrent of expenses that even the best health insurance policies cannot cover. If someone in your family had a stroke or is diagnosed with cancer, would you be able to pay for the many hidden costs that result from such a serious, critical illnesses? Do you have cash on hand to cover the following?

* Fees for nursing care provided in your home by professionals and paraprofessionals

* Compensation to family members who take time off from work to care for the patient

* Hotel rooms and meals for family members staying near the hospital

* Costs for remodeling your home to accommodate caring for the patient at home

* Special foods to meet dietary requirements

* Equipment such as hospital beds and shower chairs for homecare

* Transportation expenses (including wear and tear on your car and fuel at $4.00 per gallon) for trips to the hospital, therapy, and doctor's offices

Catastrophic insurance addresses these needs and more.

Catastrophic insurance plans provide a lump-sum payment as soon as you are diagnosed with covered illness. That means that if you are diagnosed with cancer and your critical care policy covers cancer, you will receive a cash payment that you can use immediately. Unlike most health insurance plans, catastrophic insurance does not require deductibles and does not require you to pay a percentage of your costs. If you purchased a $100,000 policy, you receive a lump-sum payment of $100,000 upon diagnosis. It's that simple.

Catastrophic insurance is usually not part of the benefits package provided by employers. To obtain it, contact a reputable insurance agent for information on acquiring this added layer of protection. He or she will be able to provide a quote for the catastrophic insurance policy that best fits your needs and those of your family.