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Critical Illness Insurance Elkton MD

Is Critical Illness Insurance a benefit to you? If you are covered by Critical Illness Insurance and you have to collect for a covered condition, your policy will be paid in full.

Keith Al-Chokhachy, Certified Financial Planner(tm)
2751 Centerville Road
Wilmington, DE
Company
Title: Certified Financial Planner"
Company: Morgan Stanley Smith Barney
Years Experience
Years Experience: 8
Service
Captive Insurance,Life Settlements,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rol

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Martin Smith
4800 Hampden Lane
Bethesda, MD
Company
Title: President, Wealth Management Advisor
Company: KingdomTrust Capital Management, Inc.
Education
Howard University, Bachelor of Arts
Regent School of Divinity, Candidate: M.DIV
Denver College of Financial Planning
Years Experience
Years Experience: 15
Service
High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Fee-Only Comprehensive Financial Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commi

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Edwin Landis
60 West Street Suite 404
Annapolis, MD
Company
Title: Financial Consultant
Company: Landis Financial Services
Type
Investment Advisor Rep: Yes
Education
Michigan State University/ BA
Service
401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Stock Market Alternative,Medicaid,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Ind

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Passport Health
(410) 225-8206
1501 W Mount Royal Ave
Baltimore, MD
 
Health Insurance 4 All
(410) 588-9804
115 Wakely Terrace
Bel Air, MD
 
National Brokers Network
(302) 722-4084
121 Middleboro RD
Wilmington, DE
 
Amy Allee
7972 Citadel Drive
Severn, MD
Years Experience
Years Experience: 10
Service
Pension for Highly Compensated Owners,Income for Life/ Preserve Principal,Disability Insurance,Annuities,Business Succession & Liquidation Planning,Retirement Income Accumulation Planning,IRA, 401k, Roth IRA, QDRO Rollovers,Medicare Planning,Life Insurance,Investment & Portfolio Management,Retirement Income Distribution Planning,Business Income Tax Planning,401k Rollover From Employer,Wealth Management,Health Care Insurance,Retirement Planning,Insurance & Risk Management Planning,Asset Protectio

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Group Health Insurance Brokers
(410) 347-1056
8222 Schultz Rd
Baltimore, MD
 
Becker Benefit Group, Inc.
(410) 902-8800
11000 Owings Mills Boulevard
Owings Mills, MD
 
Schumacher & Seiler
(410) 561-2461
10 W. Aylesbury Rd
Timonium, MD
 
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Critical Illness Insurance

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Critical Illness Insurance

Critical Illness Insurance is not the same thing as Long Term Disability (or LTD) insurance. It resembles "Death and Dismemberment" insurance, in that it pays out the full amount of the coverage as soon as you are diagnosed with a critical illness covered by the policy. It also pays a set amount; which you can count on regardless of the outcome of your illness.

So how is Critical Illness Insurance a benefit to you? If you are covered by Critical Illness Insurance and you have to collect for a covered condition, your policy will be paid in full. Better yet, this money is typically paid in a lump sum. This way you can use it for what's most important to you. For example, you can use your benefit's to cover unconventional treatments, travelling costs, specialized treatments, for the kids' college tuitions, or to pay off your mortgage. It's up to you.

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Many consumers feel that Disability Insurance offers adequate protection in the event of a critical illness and that Critical Illness Insurance is unnecessary. However, since disability insurance is geared to your current wages, it will only give you a percentage of that wage. You may find that this is simply not enough.

LTD usually pays a regular monthly benefit based on a percentage (often 67%) of your monthly-earned income before you become disabled. Before benefit's are paid, a doctor's diagnosis must confirm the disability and the insured individual must complete the waiting period; which is typically 90 to 120 days from the onset of the disability - depending on the policy. Depending on how you pay for your LTD, your benefit's may or may not be tax-free.

Given the waiting period required, you may never collect LTD. The only coverage that would provide benefit's during a shorter period would be your short-term disability insurance. Short Term Disability (or STD) has similar restrictions to LTD. Benefit's are typically based on a percentage of your wages. STD insurance also has a waiting period.

Critical Illness Insurance differs because it usually pays out a one-time lump sum benefit. There are approximately 23 critical illnesses covered under the Critical Illness Insurance policy - including cancer, heart attack, stroke, Alzheimer's, Parkinson's, and multiple sclerosis. You will still need a doctor's diagnosis to confirm the condition, and you may have to complete a survival period; which lasts typically 30 days from the initial diagnosis. However, no other disability, permanent or otherwise, is required to qualify for benefit's with Critical Illness Insurance....

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