What You Should Know About Critical Illness Insurance
If you become critically ill, medical expenses might be only the beginning of your financial troubles.
If you are like many Americans, you could find it very difficult to financially survive a critical illness.
More than 25 million middle class American families are living paycheck to paycheck. One in five have missed payments on their bills.1
According to the Federal Reserve Board, 43% of Americans could not meet an unexpected expense of $400.2
Approximately every 34 secondsan American has a coronary event.3
On average, every 40 seconds someone in the United States has a stroke.4
The lifetime probability of developing cancer is
1 in 2 for men.5
1 in 3 for women.6
When a critical illness occurs – cancer, heart attack or any other serious condition that affects your life – medical expenses won’t be the only expenses you need to be concerned about.
Our Critical Illness insurance provides cash for the unplanned expenses of a critical illness. It works alongside your major medical coverage and pays benefits directly to you to help pay for out-of-pocket expenses, such as:
Medical deductibles and co-insurance
Transportation to and from treatment
Daily living assistance, such as meal preparation and shopping
Childcare and eldercare
Home repair and maintenance, such as lawn care
Spouse or partner taking time off to act as caregiver
Plus it’s more affordable than most people think.
On average, a 43-year-old person, along with a spouse and three children, can be covered by a $10,000 critical illness benefit for as little as $25 per month.
A couple in their early 30s can purchase a $10,000 critical illness plan for less than $3 a week.
For about $10 per week, a 48-year-old woman can have $20,000 of critical illness coverage.
Contact us to learn how we can help meet your insurance needs.
Tami Luhby. CNN. "Middle class & living paycheck to paycheck." www.money.cnn.com/2014/04/25/news/economy/middle-class-paycheck/. Published April 25, 2014. Accessed May 2014.
Board of Governors of the Federal Reserve System. "Report on the Economic Well-Being of U.S. Households in 2015." http://www.federalreserve.gov/2015-report-economic-well-being-us-households-201605.pdf. Published May 2016. Accessed September 27, 2016.
American Heart Association. "About Heart Attacks." www.heart.org/HEARTORG/Conditions/HeartAttack/AboutHeartAttacks/About-Heart-Attacks_UCM_002038_Article.jsp. Published October 20, 2012. Accessed 2014.
American Heart Association. "Heart Disease and Stroke Statistics—2014 Update." www.circ.ahajournals.org/content/early/2013/12/18/01.cir.0000441139.02102.80. Published December 18, 2013. Accessed 2014.
American Cancer Society. "Lifetime Risk of Developing or Dying from Cancer." www.cancer.org/cancer/cancerbasics/lifetime-probability-of-developing-or-dying-from-cancer. Published October 1, 2014. Accessed 2014.
American Cancer Society. “Lifetime Risk of Developing or Dying from Cancer.” www.cancer.org/cancer/cancerbasics/lifetime-probability-of-developing-or-dying-from-cancer. Published October 1, 2014. Accessed 2014.