What is the definition of Dread Disease Coverage?

Dread Disease Coverage is a kind of health insurance coverage that gives protection for a specific dread or catastrophic disease (like cancer or heart disease).

The coverage may pay a regular income or a lump sum cash payment when the insured person is diagnosed with a dread disease listed in the policy.

The Dread Disease Coverage often requires a waiting period - a specified number of days in which the insured person has to survive. The count for the waiting period starts from the day the diagnosis was made. For the benefit to be payable, the diagnosis has to be made by a doctor who is a specialist of that illness (i.e. an oncologist should make the diagnosis of cancer). There should also be some tests made.

The purpose of the dread disease period is to help the insured person by providing what he needs in order to prolong his life and to recover.

• Difference in Conditions
• Assigned Risk Plans
• Assets
• Asset-Backed Securities
• Assignment