How the ionava Vault Works: Every Scenario Explained

Wondering how the ionava Vault actually works? We've laid out every scenario so you’re clear on exactly how the Vault has your back in case a Major health event occurs.

The Illusion of “Coverage”

One of the biggest illusions in health insurance is that you’re safe—covered for any ‘Big What-Ifs’—if they happen.

It doesn’t.

Picture this: You schedule a surgery. You check that the hospital is in-network, you do everything right. Then the bill arrives and the anesthesiologist wasn't covered—so a few thousand dollars is suddenly yours to pay.

Or your doctor recommends a treatment and insurance decides it isn't "medically necessary." Now you're paying out of pocket, or going without.

This is why we built something new: the ionava Vault. With the Vault, you get the cash you need if something serious happens—no restrictions on where it goes.

Because we got tired of the gotchas and the lack of transparency, too. And our team of experts, comprised of the best minds in our country, found a better way.

As our founder (a total insurance nerd, who helped crack the code on how to build a model better than insurance) likes to remind us, “With any so-called insurance model, you’re not changing the risk of something happening. You’re changing your financial preparedness for IF that thing happens.”

How does the ionava Vault work?

The ionava Vault comes in three sizes: USD $300k, $700k, and $1M. Three options, so you can decide what best supports your comfort level in terms of financial preparedness and risk tolerance.

Think of it like a parachute that opens during a Major health event—defined as a Terminal, Critical, or Chronic Illness. This isn’t ‘coverage’. This is cash. Which means you can put the money toward any treatment or support you need or want.

Why cash? Because it makes it easier for you to decide what’s right for you. No networks to check. No approvals to wait on. You pay cash and choose the care you want. Own it.

One thing to be aware of: The Vault has a 6-month vesting period. This means you need to be subscribed with ionava for 6 months in order to use your Vault in case a Major health event happens. The Vesting period keeps the whole system fair and safe—for everyone in it. It's what keeps our risk balanced so the reserve is there for the people who need it, and prevents anyone from abusing the system.

Transparency is a core part of our DNA, so let’s walk through a few scenarios to show how the Vault actually works. We sincerely hope no one ever faces one of these diagnoses—but if you do, at least there’s peace of mind knowing your ionava Vault is there.

The ‘Big What-If’ Scenarios

Terminal Illness

This is, of course, the worst-case scenario. A terminal illness means a life expectancy of 24 months or less.

Here's how unlocking a $700k Vault looks for a Terminal Illness:

You submit a doctor’s note confirming a terminal illness with a life expectancy of 24 months or less.

Once our team confirms it, 95%* of your Vault unlocks—$665k in cash, deposited into the bank account of your choice.

From there, the money is yours to direct.

Here are just a few examples of how:

Treatment: pay cash with your physician for the care you need, without restrictions. Or fly to Europe and engage in cutting edge experimental treatments

Alternative medicine.

Hospice care. Giving the money to a family member to take care of you or a health professional.

A ‘celebration of life’ trip around the world with your family.

*The other 5% is a small processing fee.

Critical Illness

A critical illness is defined as any of the following within the last 12 months: like cancer, heart attack, kidney failure, major organ transplant, or stroke (see full list in FAQ here).

Here’s how unlocking that same $700k Vault looks for a Critical Illness such as a heart attack, for example:

You submit a doctor’s note certifying a heart attack within the last 12 months.

Once our team confirms it, 25% of your Vault unlocks—$175k in cash, deposited into the bank account of your choice.

From there, the money is yours to direct:

Treatment: surgeries, medicine, hospital bills, and more.

Rehab of your choosing.

With each additional critical event, more of your Vault unlocks until it's fully depleted. If a second heart attack occurs, 35% of the remaining Vault value unlocks—in this case, $201k. If a third event occurs, the rest of the Vault unlocks entirely (minus the 5% processing fee).

Chronic Illness

A chronic illness means that, for at least 90 days, you're unable to perform at least two Activities of Daily Living without substantial assistance from another person—or that you need substantial supervision to keep yourself safe from threats to your health and safety due to severe cognitive impairment. (Activities of Daily Living include bathing, continence, dressing, eating, toileting, and transferring.)

For example: someone diagnosed with early-onset Alzheimer's who needs supervision to stay safe, or someone with rheumatoid arthritis who can no longer dress or bathe on their own.

Continuing with our $700k Vault example, here's how unlocking works for a Chronic Illness:

You submit a doctor's note certifying that, for at least 90 days, you can't perform at least two Activities of Daily Living without substantial assistance—or that you need substantial supervision due to severe cognitive impairment.
Once our team confirms it, 24% of your Vault unlocks—$168k in cash, deposited into the bank account of your choice.
You can take this as one lump sum each year, or as 2% of your Vault per month ($14k/month). The 24% unlocks again each year for up to 4 years, until your Vault is fully depleted (minus a 5% processing fee).

From there, the money is yours to direct:

In-home care: support with your daily living.

Family support: pass the funds to a family member who's caring for you.

Assisted living: the cost of living at a residential center where you're cared for.

What about everything else?

Meet the Wallet.

After walking through these scenarios, the next question we usually get is:

How do you pay for everything that doesn’t fall into one of these three categories?

Things like a broken arm, pregnancy or IVF, hormone treatments, or a torn ACL don't unlock your Vault. Even if they feel big, these are defined as ‘Small What-Ifs’ and some aren’t even ‘What-Ifs’. That’s part of the difference.

The best way to stay financially prepared for those moments is your Wallet. 70% of the subscription price you pay each month (or annually) goes directly into your Wallet. You can save that money and let 1 – 3% interest grow it while it sits there.

That way you’ve got cash ready for the ‘Small What-Ifs’ and in the meantime, you truly own your money. You direct it to exactly the treatment, care, and provider you want.

Want to go deeper? Check out our article on the Wallet. (coming soon!)