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What is Critical Illness insurance?



CritiCAL Illness Insurance – Golden Rule Insurance Company

Critical Illness insurance

 Get Critical Illness insurance rates in your area if you are interested in supplemental insurance coverage for future unforeseen serious illness diagnoses.


What is Critical Illness insurance? 

Critical Illness insurance pays a lump sum cash benefit directly to the policyholder in the event of a qualifying serious illness.

Ask yourself this – If you were unable to work for an extended period of time, could you continue to pay your mortgage or other bills? Do you have an emergency fund set aside for an unexpected critical illness or serious medical condition?

If you answered “no” to these questions, you may want to consider UnitedHealthcare branded Critical Illness insurance plan underwritten by Golden Rule Insurance Company. Critical Illness insurance, also known as Critical Care insurance or Critical Illness coverage, may help shift the focus more to your recovery and less on your expenses.

Heart icon

A heart attack happens

to someone in the U.S. about once every 40 seconds.F47

Lump sum

Choice of amounts up to $50,000, paid directly to you if a qualified critical illness occurs

Flexible funds

Use them where you need them

Simple application

Questions with “yes” or “no” answers 

What is covered by Critical Illness insurance?

It’s simple. You choose 1 of 5 Maximum Lifetime Benefit amounts: $10,000, $20,000, $30,000, $40,000 or $50,000. Your benefit pays out upon first diagnosis of a qualifying illness experienced at least 30 days after the plan becomes effective.

Your Critical Illness
policy becomes

Diagnosis of  qualifying illness after 30-day waiting period

You receive cash
benefit in lump sum

You use your cash
as needed to cover
financial obligations

You stay covered after you turn 65

You can keep your Critical Illness coverage up to age 70. After age 65, your remaining Maximum Lifetime Benefit amount is automatically reduced by 50%, but you can still keep your plan.

The money you receive can be used to cover whatever needs you have:

  • Mortgage, rent, and utility payments
  • Childcare
  • Groceries for your household
  • Health insurance deductibles
  • Out-of-pocket medical expenses
  • Prescriptions and other medications
  • Specialist treatment or rehabilitation


Critical Illness plan advantages

Tax benefitF40

You have a tax advantage with your Critical Illness coverage. Typically, money received from Critical Illness insurance is not taxable.

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Flexible funds

Use the money as you see fit to cover expenses associated with a critical illness.

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5 level choices 

The choice of benefit level helps to give you control over the cost of your plan: $10,000, $20,000, $30,000, $40,000, $50,000

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Combine plans for increased coverage

A Critical Illness plan can be applied for by itself or along with other health insurance plan(s). Combining multiple plan types can help you get the coverage that’s right for you. Pair this plan with Short Term Medical, Dental, and Vision for a well-rounded package.

Critical Illness FAQs

Critical Illness insurance is supplemental insurance that pays a lump sum benefit if you are diagnosed with a covered illness. It is designed to help with the costs of treating and recovering from serious illness.

Ultimately, that decision is yours and unique to your situation. You can’t predict the future, but you can be prepared. Critical illness insurance can help supplement your income if a critical illness strikes.

A Critical Illness policy pays for:

  • Heart attack
  • Stroke
  • Life-Threatening CancerF42
  • Loss of Hearing
  • Loss of Speech
  • Loss of Vision
  • Major Transplant
  • Paralysis
  • Coma
  • Renal Failure
  • Carcinoma in Situ
  • Coronary Artery Bypass Graft

Good candidates for a Critical Illness plan include:

  • Primary financial provider of the household
  • Someone insured but with a health insurance plan that has a high deductible
  • Person with limited savings for an unexpected illness

That’s ultimately up to you and the needs of your situation. In 2020, according to a General Re Life Corporation market research survey, the average benefit amount per new critical illness insurance policy was just over $22,000.F41

Yes, there is a 30-day waiting period on Critical Illness benefits. First diagnosis must be made at least 30 days AFTER your effective date.

Bring your questions to our licensed insurance agents six days a week.

This policy has exclusions, limitations, reduction of benefits, and terms under which the policy may be continued in force or discontinued. For costs and complete details of the coverage, call or write your insurance agent or the company, whichever is applicable.