Critical Illness Plans
Depending on the carrier and state where you live, critical illness policies can be purchased up to age 70. These policies pay lump sum benefits for a list of critical illnesses, e.g. cancer, heart attack, stroke, and other illnesses and conditions such as organ transplants, paralysis, major burns, etc. Covered critical illnesses vary by carrier. Most carriers insure for a face amount, and the face amount is paid when one of the critical illnesses occurs.