Financial Planning Q 'n A

While disability insurance covers you on a monthly basis, it sometimes takes time before the payments begin. In many cases of illness, expensive therapy or medications not covered by your health insurance may stress your financial resources. In some cases a spouse or other family member may wish to take unpaid time away from their work to assist in your recovery. Critical illness insurance pays a lump sum amount upon diagnosis of one of many serious illnesses including cancer and heart disease.