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Critical Illness Coverage Helps Pay Your Bills
A critical illness can affect a family at any time.
Unfortunately, it can also have a devastating effect on your finances.
It is likely you insure your home & car, but what about your income?
Critical Illness Insurance coverage pays a cash benefit directly to the insured in the event they are diagnosed with one of 21 critical illnesses (ie. heart & cancer).
The payment is based on the elected face amount of coverage ranging from $25,000 up to $500,000.
Let’s look at some facts:
- Medical bills prompt more than 60% of U.S. Bankruptcies (CNN Report 2009)
- About every 34 seconds, an American will suffer a Heart Attack (American Heart Association)
- On average, every 40 seconds someone in the USA has a stroke (American Heart Association)
- 1 in 2 men and 1 in 3 women will be diagnosed with Invasive Cancer (American Cancer Society)
The facts are frightening, but the power to protect yourself financially in the event of a critical illness is easy. If you have a family history of one of the 21 classified critical illnesses, your chances of getting one could increase. This policy was designed initially by a doctor who witnessed many of his patients shorten treatment or be wiped out financially by medical bills that were not covered by their health insurance (co-pays, deductibles, co-insurance) and the loss of income from time the patient and spouse missed from work. This coverage pays a lump sum upon diagnosis to the insured. You choose how to use the money. The money can be used to cover everyday expenses (mortgage, car payment, college, medical bills, etc.)
The facts speak for themselves. Learn more about critical illness coverage. Call us @ 800-327-2866 or your agent today to get information and quotes to start protecting you and your family.
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- TRANSAMERICA and LIVESTRONG Unite in the Fight Against Cancer (eon.businesswire.com)
- Fred Scarf, CNN Hero, Plans Proms For Seriously Ill Teens (huffingtonpost.com)
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