Does Critical Illness Insurance Cover All Cancers?
Coverage for Invasive Cancer: 100%
Critical Illness (CI) insurance typically covers invasive cancers fully, providing 100% of the benefit amount. Invasive cancers are those that have spread beyond the layer of tissue where they developed and have the potential to spread to other parts of the body.
Non-Invasive Cancer Coverage: 25%
Non-invasive cancers, also known as carcinoma in situ, are usually covered at a lower percentage, commonly 25%. These are cancers that have not spread beyond the original tissue or site.
Related Reading: Does Critical Illness Cover Basal Cell Carcinoma?
Combined Coverage Limitation
It’s important to note that the total coverage for invasive and non-invasive cancers combined cannot exceed 100% of the policy amount. This means that if you have already claimed for non-invasive cancer, it will reduce the amount available for a subsequent invasive cancer claim.
Child Critical Illness Rider Exclusion
CI policies often have an option to add a child rider, providing coverage for the policyholder’s children. However, this rider typically does not cover cancer diagnoses, either invasive or non-invasive.
Cancer Coverage in Critical Illness Insurance
|Full benefit amount
|Carcinoma in situ
|Total limit for all cancer claims
|Child CI Rider
|Excludes cancer coverage for children
Critical illness insurance offers significant coverage for both invasive and non-invasive cancers but with certain limitations and exclusions, particularly concerning coverage for children. It’s crucial to understand these details to effectively manage expectations and financial planning. Contact us today for a free quote.
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