A critical illness can have a significant impact on your health, creating added responsibilities for your loved ones, but also an impact on your finances. Critical illness insurance (CI) protects your personal and family’s financial security by providing a one-time, tax-free, cash payment to help alleviate the pressure. Our Hometown team of licensed professionals serve Niagara Falls and local communities by providing valuable advice and support about the importance of critical illness insurance. You can contact us to discuss the type of coverage that may be right for you. Our experts will make it easier than ever to understand your options, and protect your loved ones, just as we have for so many others.
Finding the right company to provide you with relevant advice and high-quality service is important, and can make your search for proper coverage much easier. Our Hometown Life Insurance team provides valuable information and trusted recommendations to the people of Niagara Falls and the surrounding area. You will find that our approach is unlike what you may have experienced in the past, or expect to find when searching for insurance. We have created many resources to help you get started on the right track, and we focus on providing you with efficient service. No longer do you have to spend hours in many scheduled meetings with an advisor. Instead, you can be in touch with our team of licensed professionals who have the knowledge and experience, but without the hassle. We can assist you in obtaining a quote and applying for coverage, so you don’t have to navigate the insurance market alone.
Working with Hometown means that you receive a complimentary insurance review, tailored to your situation. We start by helping you evaluate your needs and then search the market for the right critical illness insurance coverage. More information can be found on our critical illness insurance pages, or you can contact our Niagara Falls Hometown team to ensure your physical, mental, and financial future is protected.
Ensuring the financial stability of your family starts with proper insurance protection. Critical illness insurance coverage is a key component that provides a cash payment to support your needs. You may use the payout for your monthly expenses, contributions to stay on track for retirement, to pay your debts, and to save for your children’s education costs. Whether you are the primary income earner or caregiver, a critical illness would have a dramatic affect on your ability to maintain your lifestyle without proper protection. In fact, the same can be said about the financial impact of a child’s critical illness, which is why many young families also own policies on their children. It ensures that you can take time away from work, as needed, for any appointments and care. If this seems a little overwhelming, don’t worry, our Niagara Falls Hometown team has the experience and knowledge to help you make sense of your options and simplify the process.
Your critical illness insurance needs can change many times throughout your life, so it is important for us to continue to stay in touch with our clients on a regular basis. A new job, promotion, purchasing a house, getting married, having a baby, or even starting your own business, can all be signals of a changing insurance need. Start by reviewing with one of our Hometown Life Insurance professionals to ensure your coverage continues to provide the protection you require. We are here and happy to help! In addition, when you are a Hometown client, we will be sure to have regular scheduled reviews with you to help identify other possible changes that should be considered. If something changes, it is important to update our team quickly so you aren’t leaving yourself exposed to risk.
Critical illness insurance and life insurance really go hand-in-hand. With life insurance, you need coverage if you have loved ones that would be financially impacted by your death. The same can be said for critical illness insurance, as it relates to being diagnosed with a covered condition. As the policyowner, you would actually receive the CI payout yourself, so even if you don’t have others relying on your income, you should have protection to ensure you don’t have to sacrifice your lifestyle if you become ill. The costs of medications, treatments, the potential loss of income, in addition to your normal monthly bills can be financially devastating. Don’t take that risk. By getting insurance early, you can lock in at lower premiums at a younger age and guarantee protection. Our Niagara Falls Hometown team is here to assist you, so let’s start understanding how you can ensure the peace of mind of you and your family today.
Your monthly premiums on your critical illness insurance policy will be locked in for whatever term you choose. A couple of the options available include a term that last 10 years, or a policy that covers you until age 75. In these cases, your policy premiums wouldn’t change for 10 years or for the entire length of your policy – depending on your selection. You can choose to convert your policy to a longer term, or even permanent coverage to lock in your premiums for the life of your policy, without any medical underwriting. Life-long coverage ensures you are protected through your retirement life as well, so that you don’t outlive your money in case of a critical illness.
The monthly premium for your critical illness insurance policy combines personal details such as your age, gender, smoking status, medical history, lifestyle and family history with the policy selections you make (term, amount, riders, etc.). The underwriting department will review your application and determine the appropriate rating for your policy. If you receive a standard rating, which is the most common result, your premiums will match your quoted price. You can also receive a preferred rating for a lower monthly premium, or an increased rating that results in higher premiums to match your elevated risk. As the policyowner, you get to make the final decision on whether you want to implement the policy after all underwriting is complete and your final monthly premium is determined.
If there comes a time where you have to make a claim on your CI policy – contact our Hometown Life Insurance team serving Niagara Falls and the surrounding area. Receiving a critical illness diagnosis is shocking and stressful, but our goal is to make sure you get your claim paid out as quickly and easily as possible. We will gather the information to submit the claim on your behalf and handle any other requests where possible, so you can focus on your recovery.
The only cost to apply for a critical illness insurance policy, is the monthly premiums you will pay to activate and maintain your coverage. Whether you implement the coverage, or decide not to, you won’t pay anything for the process of getting a quote, applying or any of the medical underwriting requirements. All of that is covered by the insurance company.
Yes, at any point you can choose to cancel your critical illness insurance coverage at no cost to you. If you have the “Return of Premium” rider, you may also receive all or a portion of your premiums back if you have reached the required qualifying period. However, before you cancel your policy, it is advised that you speak with our team of licensed professionals at Hometown Life Insurance to understand your options. You may discover that you still have a need for coverage, or that it is in your best long-term interest to maintain your coverage based on your potential future needs. Termination of a policy is permanent, so it is important that you make an informed decision to ensure the security of you and your family. Our Niagara Falls Hometown team is here to help!
The underwriting process begins with reviewing the information disclosed in the application about your health, medical history, occupation, lifestyle, and family history. Any additional information required will be gathered by follow up questions via telephone or medical tests – but many people won’t require either of those. Once the underwriter has the required information, your final monthly premium will be determined and your approved policy will be activated when you give final confirmation.
Adding “riders” to your critical illness insurance policy allows you to customize your coverage to meet your individual needs. Our Hometown team serving Niagara Falls and area will start by understanding what is important for you to protect with your CI policy, and then share which riders may be suitable. Some of the most common riders include return of premium at expiry, return of premium at death, and disability waiver of premium. Our FAQ section of our critical illness insurance pages will provide you with more information about the basics of insurance and the various riders available to you.