Do I Need Critical Illness and Life Insurance?

Shawn Plummer

CEO, The Annuity Expert

Understanding Critical Illness and Life Insurance

  • Life Insurance: Provides financial support to your beneficiaries upon your death.
  • Critical Illness Insurance (CI): Offers financial assistance if you’re diagnosed with a specified serious illness.

Reasons to Consider Both

  1. Comprehensive Coverage: Life insurance covers death-related expenses and financial support for beneficiaries. CI provides funds during your lifetime if you face a major health crisis, covering costs like treatment, recovery, or loss of income.
  2. Financial Security: Having both insurances ensures financial stability for you and your loved ones in various scenarios.
  3. Peace of Mind: Knowing you’re covered for both death and critical illness can bring peace of mind.

Situations Where You Might Not Need Both

  1. Adequate Savings: If you have substantial savings, you might feel CI is unnecessary.
  2. Workplace Coverage: Some employers offer CI coverage, reducing the need for a separate policy.
  3. Budget Constraints: If premiums for both insurances are unaffordable, prioritizing one based on your circumstances might be wiser.


While it’s not mandatory to have both Critical Illness and Life Insurance, combining them provides a more comprehensive safety net. Assess your personal and financial situation to decide if having both is beneficial for you. Contact us today for a free quote.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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