What is a Critical Illness Plan? A critical illness plan is a supplemental insurance policy that will pay a lump sum benefit in the event you have a qualifying critical illness such as a heart attack, stroke, cancer, renal failure or even major organ transplant. The benefit amount will vary based on the insurance company. They can range anywhere from $5,000 up to $100,000. Typically, the critical illness plan will only pay out in the event of a first diagnosis.

How can I purchase a Critical Illness plan?  You can purchase a critical illness plan through various insurance carriers such as CHUBB, Catlin, GTL or Unified Life. Typically, your policy will take effect any day of the month. Most of them are guarantee issue so there is no medical background check.

Pre-existing Conditions: Pre-existing conditions are not covered on Critical Illness Plans. They either have a 12-month waiting period on existing medical conditions or they only cover a first diagnosis critical illness.

Why choose a Critical Illness Plan? A critical illness plan is a great fit if you have a traditional major medical plan that has a high deductible. The critical illness plan will pay a lump sum benefit to help reduce or eliminate the out of pocket expenses on your primary insurance plan. It is also a good option if you have a limited benefit plan that doesn’t pay much for hospitalization or surgery and you want to have additional coverage in the even that you are hospitalized with a qualifying critical illness. In most cases, if you have an HMO plan, you will not have any coverage out of the network so the critical illness plan can help with those medical expenses since they don’t have networks. The plan will work anywhere. You just file the qualifying claim and the carrier will typically send you the lump sum payment.

What is an Accident Medical Expense Plan? An accident medical expense plan is a supplemental insurance policy that will pay a lump sum benefit in the event you have an accident. The accident does not have to be in a vehicle. The benefit amount will vary based on the insurance company. They can range anywhere from $1,000 up to $50,000. In most cases, you have a deductible to pay to activate the benefit and typically it is $250 or $500.

How can I purchase an Accident Medical Expense Plan?  You can purchase an accident medical expense plan through various insurance carriers such as CHUBB, Catlin, GTL or Unified Life. Typically, your policy will take effect any day of the month. Most of them are guarantee issue so there is no medical background check.

Pre-existing Conditions: There are no waiting periods on this plan because it is accident only coverage.

Why choose an Accident Medical Expense Plan? An accident medical expense plan is a great fit if you have a traditional major medical plan that has a high deductible. The accident plan will pay a lump sum benefit to help reduce or eliminate the out of pocket expenses on your primary insurance plan. It is also a good option if you have a limited benefit plan that doesn’t pay much for large medical expenses such as a hospital stay, surgery or emergency room visit. In most cases, if you have an HMO plan, you will not have any coverage out of the network so the accident plan can help with those medical expenses since they don’t have networks. The plan will work anywhere. You just file the qualifying claim and the carrier will typically send you the lump sum payment.

With more than 80 years of experience in the insurance industry, Guarantee Trust Life Insurance Company (GTL) has a proud heritage of providing excellent service and superior insurance products to individuals, families and groups across the country. GTL believes in doing business the right way. They have a consistent track record of successfully delivering on their promises and preserving the trust that their partners, employees and policyholders place in them. Their mission is to be recognized as a highly-competent, mid-sized mutual insurer, who by bridging timeless virtues with current best business practices, is effective in marketing targeted life and health products across the country.