Critical Illness Insurance
Modern medicine saves lives. Early detection and improved treatment of cancer, heart attacks, strokes, to name just a few examples, have dramatically increased survival rates and extended life expectancy. For those who suffer such illnesses—and 75 percent of healthy people over 40 will become critically ill at some point in their lives—there can be costly side effects, especially if recuperation requires a stay in an Assisted Living Facility or Nursing Home. To protect yourself from unexpected financial hardship, consider a Critical Illness Insurance Policy.
Many people feel secure knowing they have traditional health insurance, but the financial burdens of critical illness go well beyond co-pays and deductibles. For many, the costs are simply too much to bear. Nearly two-thirds of all bankruptcies filed in the United States are a direct result of overwhelming medical expenses—and 79 percent of those who filed for bankruptcy protection had health insurance in place when they were diagnosed and treated.
Critical Illness policies cover major health conditions, including:
- Heart Attack
- Coronary Artery Bypass Surgery
- Alzheimer’s Disease
- Kidney Failure
- Major Organ Transplant
Cash Benefits can be used to pay for:
- Loss of income
- Medical Co-payments
- Rehabilitation expenses
- Alternative treatment options
- Out-of-network charges on PPO
- Travel Costs
- Lifestyle changes
- Recuperative Vacation
- Mortgage loans & debt payments
- Child-care expenses
- School expenses
- Home modifications
A Critical Illness insurance policy’s cash benefit is paid on diagnosis of a major health condition listed in your policy and has no restrictions. You can use the money however you see fits, such as covering costs commonly associated with critical illness and recovery.