catastrophic illness insurance

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A category of insurance, also known as critical illness insurance, which is used to protect the insured during specified major health situations for a specified time period. The insurance coverage of this type is generally in a lump sum payment and be used fully or partially depending on the conditions of the policy and the health condition. Long-term hospitalization, cancer, and heart attacks may be included in the coverage. Catastrophe insurance may also be utilized as a supplementary coverage for existing health and disability insurance for a beneficiary. Insurance premiums will have lower prices for younger and healthier individuals.
This type of insurance does not cover routine medical costs such as checkups. Coverage restrictions are based on provided but claims are typically rejected for common reasons such as conditions that are pre-existing, death within 30 days of diagnosis, or critical diagnosis within the initial 90 day time period.

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