Who Needs Critical Illness Insurance? 
Everyone above makes good points . So my copy & paste reply is NOT to point out errors ... only to expand on their points ... A different view point . My opinion ... EVERYONE should have SOME Critical Illness Insurance -LRB- CI -RRB- unless you are just super-crazy wealthy & can write a check for just about `` anything you want '' . -LRB- yet even then the price of the insurance may be low enough that you would n't `` want to use your own money when you can leverage the funds from an insurance carrier ... that 's another post one day ... -RRB- Bob - ... recommended for those who would have difficulty paying their out of pocket expenses in the event of a severe health impairment . A good major medical policy will cover most of your health care bills ... . I WOULD LIKE TO SAY that even in 2013 when he posted , major medical has SO MANY holes in it , the ideas that just having major med is enough ... I find that crazy . WHY Gravy ??? 1 . lost time from work 2 . limitations on therapies 3 . `` 4th quarter penalty '' ... meet your deductible in December & it starts over again Jan. 1st . 4 . travel 5 . uncovered expenses like durable medical equipment . 6 . paying someone to clean , cook , & even wipe your butt -LRB- yes . I said that -RRB- . 7 . the time away from work for your spouse , loved one , family , or friend that is `` helping you recover '' . 8 . alternative treatments not covered by your major med 9 . In todays Obamacare world , where networks have RADICALLY changed , you might NEED to go out of your `` network '' to save your freaking life !! Who will write the check for that ?? 10 . I can go on & on ... . POINT : Major Med has WAY too many holes to think that `` all is good '' if you have a card in your wallet . CI Kelly - great points about hazardous occupation , the self-employed , or someone who was declined Disability Insurance . I WOULD ALSO say it is great for those that `` have no income '' , Like stay at home parents . ALSO , I do n't see it as an `` alternative '' to disability . It should be assessed for what it does on it 's own , or as a complement to disability . As a general rule , we always introduce both DI & CI when the conversation is about `` loss of income '' . Peggy - Just for a rainy day ?? I have clients that EARN A LOT OF MONEY ... Yet they still own CI . So from the $ 10 an hour bagboy at the grocery to those making 6 , or event 7 figures a year , CI can be a valuable tool . Folks , the WHY behind buying a CI protection plan is as unique as you are . Lost income - Works for that . Cover out of pocket costs that are n't covered by medical insurance - Works for that too . YOU SHOULD chat with an agent that represents several carriers . 1st , because they all have various underwriting appetites . 2nd , for the maximum # of conditions that `` trigger a benefit '' & other features a plan may have -LRB- like a full refund of premiums if you die for anything other than a named illness -RRB- . 3rd , and your last consideration when 1 & 2 are `` equal '' , look at the monthly premium you will pay ... Reach out if you have questions ... - gravy . 