How much does a critical illness insurance policy pay out?
Many people purchase critical illness insurance to protect their finances in case they’re diagnosed with a serious illness like cancer, heart attack or stroke.
When you purchase a critical illness insurance policy, you’ll select a benefit amount, or the amount of coverage you have. For Assurity’s Critical Illness Insurance, you can choose a benefit amount between $5,000 and $50,000 of coverage. Assuming you kept up with your premiums, that’s the amount you’ll receive if you’re diagnosed with a covered critical illness. Assurity’s Critical Illness Insurance covers four of the most common serious conditions: Heart attack1, cancer, stroke and Advanced Alzheimer’s Disease. Note that if you’re diagnosed with noninvasive cancer, or cancer that only stays in one part of the body, you’ll only receive 25% of your benefit amount.