Ted Wernham discusses two benefits of critical illness insurance: 1) It provides peace of mind by helping avoid financial strain from a serious health diagnosis through a lump sum payout. 2) Most policies offer coverage from $10,000 to $30,000 for conditions like cancer or heart attacks, with an additional $5,000 for any recurrence within 180 days. Coverage can be purchased individually or through an employer.

1. Ted Wernham: Benefits of
Critical Illness Insurance

2. Ted Wernham: Benefits of Critical Illness
Insurance
When planning for retirement, one important element to consider is whether or not to obtain
critical illness insurance, which provides coverage for serious health conditions such as end-
stage renal failure, heart attacks, stroke, and paralysis. Ted Wernham, a retirement income and
personal asset manager, specializes in different types of insurance including term, cash value,
and critical illness insurance. Here he shares his thoughts on two of the benefits of critical illness
insurance.

3. Ted Wernham: Benefits of Critical Illness
Insurance
Peace of mind – With a lump sum being paid out upon the diagnosis of a serious illness, critical
illness insurance provides peace of mind , as it helps individuals avoid the financial strain of a
serious diagnosis. When the cash benefit is paid out, the policy owner decides how the funds
will be used – for example, payments can be used to help cover the costs of treatment, or to
keep current on mortgage and other debt payments.

4. Ted Wernham: Benefits of Critical Illness
Insurance
Coverage benefits– While policies vary, most critical illness policies offer individuals coverage
ranging from $10,000 to $30,000 for covered conditions, with an additional $5,000 for any
recurrence of the condition after 180 days. Coverage can be purchased in several ways: as an
individual policy, as part of health or life insurance policy, or as part of a workplace benefits
package.