1) What is critical illness insurance ?
This type of insurance is protection against any illness that would cause an inability to work in the future. The insurance includes compensation for salary as well as benefits and possibly pain and suffering depending on the cause of the illness.
2) Who is this type of insurance for?
Critical illness insurance is meant for people who have been displaced at their place of employment because of an illness that was outside of their control. Basically, if you are not able to work because of an illness that was contracted on the job, you may be eligible for this type of insurance.
3) How does this particular type of insurance work?
First, you must have a claim of an illness that is partially or in full the fault of your employer. It does not have to be on site, but it does have to be because of your work in some way. After the claim is accepted by the insurance company, you have the ability to begin collecting ongoing payments or a lump sum payment depending on the claim benefits package that you signed up for with your employer.
4) What are the different types of insurance coverage in existence?
There are different kinds of illness insurance packages that pertain to the different kinds of critical illnesses that can happen on the job. Certain kinds of companies will try to protect themselves from certain kinds of critical illnesses, because many of them are more likely to happen in certain environments than in others. For instance, the medical industry will likely protect against different critical injuries from the construction industry.
5) What are the major benefits of this type of illness insurance?
This type of insurance provides protection against losing employment because of an illness that the job creates. Employees can go to work assured that they will not lose out on the ability to work because they were trying to work. This kind of insurance also helps to ensure that employers have a safe work environment.