Critical Illness Coverage for Truck Drivers
For truck drivers, getting sick is not just a huge hassle, it can be expensive. Even with a simple case of common cold or flu, there are things you need to do or buy just for you to get better. There’s a feeling of regret because you think your time and your money could be better spent on other more important things. Worse, handling the emotions that come up when experiencing illnesses such as a cancer diagnosis, heart attack, or stroke is difficult enough. Worrying about your financial stability on top of this can obviously be overwhelming.
With critical illness insurance, Truckers Health Coverage helps you and your family have the financial stability necessary to completely focus on healing during a difficult time.
What is Critical Illness Insurance?
If you’re lucky, you’ve probably never had to use critical illness insurance (sometimes called catastrophic illness insurance). You’ve maybe never even heard of it. But in the event of a big health emergency, such as cancer, heart attack or stroke, critical illness insurance could be the only thing protecting you from financial ruin.
Critical illness cover is a type of insurance that pays out a tax-free lump sum if you're diagnosed with, or undergo surgery for, a critical illness that meets our policy definition during the policy term. Because these emergencies or illnesses often incur greater than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short. It's also designed to help support you and your family financially while you deal with your diagnosis — so you can focus on your recovery without worrying about how the bills will be paid.
Plans can offer a wide range of payouts, from $5,000 to $500,000 in lump sum payments. The exact amount depends on your contract and the illness. Additionally, you can use the payout to cover a wide range of costs during treatment, whether for health care or other reasons.
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Who needs it?
As critical illness cover is designed to support extra costs if you fall ill, you might want to consider it if:
- You depend heavily on your salary to support yourself and your family
- You don’t have enough savings to live on if you were to become seriously ill or disabled
- Your job won’t cover you for a long period off work due to sickness (employee benefits package)
How much cover do you need?
Think about the costs you'd need to cover if you were to fall ill and couldn't work (this might include regular outgoings, such as energy bills and food shopping).
If you have children, you’ll want to ensure that your family is provided for, in case you can’t work due to health problems. Level cover can offer financial security for you and your loved ones. You may also need a policy to make sure that your mortgage can be paid off — this is often a requirement of mortgage applications. Decreasing cover helps to pay off debt, like a repayment mortgage, that's reducing over time.
For extra protection, you can usually get critical illness cover and life insurance at the same time. This way, you'll be protected against different circumstances and be able to choose how much cover you need for each policy.
Critical Illness Form - Bottom
Reasons to Consider Critical Illness Insurance
It’s different than medical insurance
Contrary to what many people believe, medical insurance may only cover a portion of the expenses associated with treating a serious illness. Plus, additional costs that often come with recovering, like childcare, transportation, and grocery delivery, may be left up to you. Critical illness insurance can provide you with a benefit that can help you pay for unexpected costs, such as those that your existing medical insurance may not cover.
It pays a lump sum directly to you
One of the benefits of critical illness insurance is that it pays a lump sum directly to you for covered conditions—not to healthcare providers—so you can use the money on anything you need. Household expenses, medical payments, or personal needs for you and your family—you’re in charge of how to spend it.
It covers a range of serious illnesses
A common misconception is that critical illness insurance only covers certain cancers. In fact, it may also cover a heart attack, kidney failure, and even COVID-19, in some cases. No one wants to think about getting sick, but it’s important to realize that these types of illnesses can happen, so it’s best to be prepared. Open enrollment is a good time to consider how critical illness insurance—and other benefits—could help support your family’s financial goals.
