Pre-existing Conditions: Pre-existing condition limitations vary, so read the fine print. Covered Illnesses: What specific illnesses are covered? Will they be paid at 100%?Underwriting: Simplified underwriting applies to policy benefits less than $100,000; full underwriting applies to benefits over $100,000. Guaranteed Renewable "To Age": Most policies are guaranteed renewable; some continue for life, others terminate at age 75-80.Issue Ages: Generally 18-69; some companies have maximum issue ages of 65, 70 or 75.Minimum and Maximum Benefit Amounts: $10,000 up to $1 million or more.Waiting Period: How many days you must wait before benefits are paid.Survival Period: Number of days the insured must live following diagnosis, to receive benefitsnditions of Payment: Specific criteria that must be met before the benefit is paid. Benefit Reduction Age and Amount: Most policies maximum benefit drops by 50% at age 65.Return of Premium: Most policies refund your premium less the benefits paid only upon the death of the insured.

"Making smart choices and having a trustworthy, knowledgeable professional to give you competent advice, can save you big dollars in the long run," says Darras the ERISA Lawyer.

SOURCE Frank N. Darras