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What illnesses are covered?
Cancer, heart attack, stroke and paralysis are covered. See Covered Critical Illnesses for specific definitions.
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Is it difficult to get the money once I've made a claim?
No. Once you submit a completed claim with your doctor’s signed diagnosis and it is approved, Stonebridge Life will process it as quickly as possible -- to help make sure your life is disrupted as little as possible.
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How is the Return of Premium paid out?
If you apply before age 50, you’ll get all your paid premiums back if you select the Return of Premium option and don’t make a claim by age 65.
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Why do I need it?
About 50% of personal bankruptcies are caused by critical illness. 75% of those people had health insurance.1 More people than ever are surviving critical illnesses -- but their finances aren't. If you have a family and a home to protect, Critical Illness Insurance may help pay for the things you need while you recover.
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Doesn't my work plan cover me already?
If you have insurance through your employer then your work plan may cover you partially, it may not cover all of your medical and household expenses while you are unable to work while recovering. Critical Illness Insurance is a way to bridge the gap between disability insurance and health insurance that you may have through work. Critical Illness Insurance is not an income supplement. It is a form of supplemental insurance that gives you a one-time payment you can use however you want. We recommend you consult your employer about the details of your coverage.
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And are there restrictions on what I can use the money for?
No. You can use the money however you want -- there is no need to submit receipts or get approval for how you spend it. Critical Illness Insurance is meant to make your life easier, not more complicated.
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What types of things might I use this money for?
You can use your money to pay for anything from hospital bills to groceries -- it's totally up to you. Keep in mind that a critical illness can bring about many added or unexpected costs, so your one-time payment could also be used to cover expenses like nursing care, childcare, co-payments for medical services and deductibles for other insurance programs.
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If I already have health insurance, can I get Critical Illness Insurance?
Yes. Critical Illness Insurance is a way to supplement the existing health insurance you may have through an employer. Another advantage is that Critical Illness Insurance is 100% portable -- so if you change jobs, your insurance goes with you.
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If I already have disability income insurance, can I get Critical Illness Insurance?
Yes. Critical Illness Insurance can be supplemental to any disability insurance program.
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My life insurance has a Living Benefit option that will pay me half of my benefit amount if I am diagnosed with a terminal illness with 6 months or less to live. Is that how Critical Illness Insurance works?
No. Critical Illness Insurance was designed to help you survive and recover from your critical illness. You are given a one-time payment upon diagnosis of a covered critical illness and do not have to have a "terminal" diagnosis in order to receive your benefits.
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Do I have to be employed to get Critical Illness Insurance?
No. Critical Illness Insurance is not tied to an employer. In fact, Critical Illness Insurance is intended to help you pay your bills if you're able to continue working, or if you have to leave work due to your critical illness.
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Do I have to use Best Doctors®, Inc. in order to get the money?
No. Best Doctors is an optional service for clients who want to consult some of the best medical minds in the country so they can better evaluate their diagnosis and treatment options. Best Doctors Inc. is a service founded by two physicians affiliated with Harvard Medical School that puts you in touch with the world's top medical specialists. They can help you find the top doctors in your area, review your medical records, provide specific treatment recommendations, or even help coordinate your appointments and your care.
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Who is Stonebridge Life and will they be around when it comes time to pay my claim?
Stonebridge Life Insurance Company has been providing exceptional quality, value and service to millions of customers for over 40 years. As of 6/18/08 Stonebridge Life is rated A+
(Superior, 2nd out of 16) for financial strength by A.M. Best Company, one of the most respected independent analysts of the insurance industry, so you can buy coverage with confidence.. For more information, you can email us a question, or call 1-866-642-1926, (M-F 8am-9pm ET) to speak to an agent.
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Who came up with the concept of critical illness insurance?**
Dr. Marius Barnard, a doctor in South Africa, came up with the concept of critical illness insurance. He saw first hand the impact a critical illness could have on a family's finances, and realized the need for a type of insurance that would provide people with financial peace of mind while they are recovering from an illness.
