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A GUIDE TO CRITICAL ILLNESS INSURANCE 14 Critical illness insurance policies may include additional benefits, riders, or eligibility requirements which must be met for a claim to be paid out. These are explained here. Eligibility requirements Survival period You may not be eligible to make a claim for some covered conditions unless you survive for a number of days after the diagnosis of the covered conditions. Survival periods exist because this is a living benefit; the purpose of the policy is to provide financial assistance to you when you are living with a covered condition. Optional benefits Critical illness insurance policies may also offer optional features that you can purchase. Some typical optional features include: Partial payout benefit Your policy may include a partial payout benefit, which may pay out a specified percentage of the critical illness benefit if you receive a diagnosis or undergo a procedure which will be specifically listed in your policy. Examples include early stages of breast, prostate, skin, blood, intestinal and thyroid cancers, or coronary angioplasty. These conditions are typically excluded for full payout under the definitions of the covered conditions. Your policy doesn't end when there is a partial payout, although the amount may be deducted from the critical illness lump sum benefit. Talk to your agent to understand how the partial payout impacts the critical illness benefit amount. Waiver of premium in the event of disability If you are unable to work for a specified amount of time because of illness or injury, your premium payments can be waived while you are disabled. This feature will result in your insurance company paying your premiums for as long as you meet the definition of disabled or until your coverage ends. OTHER FEATURES OF YOUR POLICY 5 Tip: Your critical illness insurance contract will define "disabled." It's important to review the wording of this feature.