Critical Illness Insurance - Lincoln

If you are looking for critical illness insurance in Lincoln, you are in luck! Hometown Life Insurance is proud to help residents of Lincoln and the surrounding area protect themselves and their families from the financial burden of a critical illness. Our experienced and knowledgeable team is ready to assist you throughout the process, as we seek to provide an industry leading digital experience with unmatched customer support. Contact our Hometown Life team, servicing Lincoln, to get started with a quote today!

The best critical illness insurance company for you is one that helps you understand your options, so that you can make an educated decision that is best for you and your loved ones. Our team at Hometown works to ensure that you feel supported, from the time you are doing research, until the time when you apply and receive your policy – we are here to help. Our digital interface provides a seamless customer experience that isn’t common in the personal insurance industry. And we always want to learn from your experience, so that we can continue to bring increased value to all of our amazing clients.

Your critical illness insurance need will likely change many times over your life. Sometimes, the change will be minor, and may not require you to update your coverage. Other times, your need may change more drastically because of an income increase, purchasing a house, getting married, having children, or starting a business. Initially, you may choose a shorter coverage term (such as a 10-year term) to keep the premiums as low as possible, but as you age, you may want to extend your coverage for a longer term, or even convert to permanent coverage to ensure protection in retirement as well.

Although critical illness insurance might not be as common as life insurance, a simple rule to follow is that if you need life insurance, you probably also require critical illness coverage. Adding financial difficulties on top of a poor health diagnosis can cause additional stress at an already trying time for you and your family. CI coverage provides you with a tax-free, lump-sum, cash payout that can be used to support you and your family during your recovery period. Just like life insurance, the premiums you pay are affected by your health and age, so putting a policy into place at a younger age will lock in lower rates and guarantee coverage, even if your health changes.

The premiums on your critical illness insurance policy will remain level for the term you select. For example, you may choose a 10-year renewable term, which would keep the premiums at the same amount for the 10-year period, or you may choose a level premium term to 75, which would lock in your premiums until age 75. You will also have the choice to convert your temporary coverage to permanent coverage if you wish (without medical underwriting), which would lock in your premiums for the entirety of the coverage. Reviewing your insurance plan on a regular basis will help ensure your coverage is still meeting your changing needs.

Premiums on CI are determined based on several factors, including the term (Term 10, Term to 75, Lifetime, etc.), amount of coverage, age, gender, smoking status, personal medical history, family history, and other lifestyle details. The application questions allow the underwriters to properly asses your risk and provide you with the best possible premium rate for your health and age classification.

If you get diagnosed with a critical illness defined in your policy, contact us at Hometown Life Insurance. We are here, ready to assist you with the submission and handling of your claim to make the process as quick and easy as possible for you and your family, so that you can focus on your health concerns.

The entire process of getting a quote, applying for a policy, and any medical underwriting requirements, are all free for you! When your policy is approved, you will be required to start paying premiums to activate and maintain your policy, but no other costs. All it takes is a little bit of time to review your insurance needs and we can help you find the best policy to protect yourself and your loved ones.

Critical illness insurance can be cancelled at any time, at no additional costs to you. If your policy includes a “Return of Premium” rider, and has satisfied the required time to qualify, you will receive all, or a portion of your premiums back. Before cancelling your policy, it is important to consider whether you will require coverage in the future, or the amount of time required before you would be eligible for a return of premium. You may find that it makes more sense to keep the coverage in force than to cancel for a variety of reasons. Our team at Hometown Life is happy to review your coverage details to help you make the right choice, for yourself and your family.

“Riders” are the additional features that you can add to your CI policy to customize your coverage, based on your specific needs. The most common riders include return of premium at expiry, return of premium at death, and disability waiver of premium. For more information on critical illness insurance, including riders and definitions, check out our FAQ’s section on our CI insurance pages.