If you’re concerned about the cost of a serious diagnosis, this coverage is worth a look. Yes, even if you already have health insurance.

It’s especially relevant if you have dependents, limited savings, a family history of serious illness, or a job where taking extended time off would be tough. It can also make sense if you simply want extra financial backup in case something life-altering happens.

It’s not a must-have for everyone. If you have savings, solid employer benefits, and feel comfortable handling the financial impact of a serious diagnosis on your own, you might not need it.

Health insurance pays for your medical care. Critical illness insurance pays you.

Let’s break that down. Your health plan may help cover appointments, treatments, prescriptions, and hospital stays. Critical illness insurance provides cash after a covered serious diagnosis.

It doesn’t replace health insurance. It layers on top of it to help with the costs health insurance doesn’t touch, like time off work, everyday bills, or other expenses that come with focusing on treatment.

If you’re diagnosed with a covered condition, critical illness insurance usually pays a one-time cash benefit.

The money is yours to use however you need. That might be medical costs, household bills, or simply easing financial pressure while you heal.