In the U.S., heart attacks occur every 40 seconds, with hospital costs averaging $29,500 in 2018 and likely higher now. Critical illness insurance provides a cash payout for serious illnesses like heart attacks, strokes, and cancer, helping cover out-of-pocket expenses not covered by health insurance. It has no waiting period but excludes pre-existing conditions. Premiums rise with age. It suits those ineligible for disability insurance or with family health risks. Riders can be added to new life insurance policies but reduce death benefits.
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