Critical Ilness Insurance has been growing fast in the last 10 years - according to LIMRA it has grown from $46 million in premium in 2005 to over $332 million.  At the rate sales are going, Critical Illness will surpass standalone LTCI premiums one year.

In addition to paying a lump sum after the diagnosis of cancer, heart attack or stroke some criticall illness plans also have LTC style benefit triggers, including a loss of independent living or severe Alzheimers.

One way Critical Illness is different than long-term care coverage is how big the typical benefit is.  The normal Criticall illness policy has a maximum benefit of around $15,000 and is sold through the worksite through payroll deduction.That coverage level may not be enought for advanced cancer care however! 

How do you get bigger benefits?  Through the use of medical underwriting. In the group marketplace, medical underwriting is a dirty word.  However, in the individual marketplace people can use their good health to secure bigger benefits at a lower premium.  In fact, lump sum benefits up to $500,000 are available through some individual products.

Here's a slide share with some other surprising facts on Critical Illness - take a look.