Critical Illness

The insurance industry recognizes that medical insurance premiums continue to rise, and the cost of treatment also continues to rise. The insurance industry also recognizes that the average life expectancy in the United States continues to increase, and certain unexpected health conditions can have a major financial impact!

Critical Illness insurance provides additional coverage for medical emergencies like heart attack, stroke, or cancer.  Some plans combine all three into one package.  Some plans allow you to purchase Cancer only or only Heart Attack & Stroke.  Part of the reason for allowing these choices is to keep the premium within the client’s budget and also focus on their specific concerns.

The above Critical Illness type plans will pay a “Lump Sum” benefit when the specific Critical Illness is medically determined.  The benefits are paid directly to the consumer – generally benefits can be between $10,000 and $100,000.  Many consumers use the funds to help offset the actual medical expenses, loss of income while recovering – it is your money to do with as you choose!

Depending on the insurance carrier, plans are available for ages between 18 & 89!  Insurance carriers will require completion of a medical application. 

  • According to the 2013 Heart and Stroke Statistical Update, American Heart Association, every 40 seconds someone suffers a stroke and every 34 seconds someone suffers a coronary event!
  • According to the 2013 Cancer Facts and Figures, American Cancer Society, about 1.6 million new cancer cases were expected to be diagnosed in 2013!

Is this type of coverage worth purchasing? 

I think so – I collected on the Lump Sum Cancer plan about 15 years ago! 

 

For more information, please call, text or email.