Disability Insurance for Medical Market
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Critical Illness Insurance
We understand the expenses that continue when a person becomes disabled. Many of these same expenses exist when someone experiences a critical illness. Unlike Disability Income insurance, which covers a portion of your income over time, Critical Illness (CI) insurance pays a one-time lump sum benefit up front.
CI Insurance proceeds are available on the first-ever diagnosis of a specified critical illness, such as life-threatening cancer, heart attack, and stroke, as well as coronary bypass surgery and angioplasty. As a living benefit, CI proceeds offer more choices in recovery and can be used in any way you see fit.
Generally guaranteed renewable for life, critical illness insurance protection is usually available for individuals up to 64 years of age.Why would you consider purchasing critical illness insurance for you and your family?
Chances are...You know someone who has had a heart attack, a stroke, or been diagnosed with cancer in the last six months. Maybe it's your brother-in-law or your neighbor - a co-worker or a golf partner. You may have heard about their medical bills, missed work and out-of-pocket expenses.
Chances are...You don’t think it will happen to you. We all like to think that we are immune to a serious illness - but we're not.
Chances are... If a serious illness strikes, you probably will live. That’s the good news! But, few of us are prepared for the financial burden of recovery. Health insurance doesn’t come close to covering all of your expenses. How would you replace your lost wages or your spouse's while helping to care for you? Where would the money come from for home and car payments, deductibles, treatments outside of your health network or home health care? What if you couldn’t return to your present job and salary?
If you add your usual monthly bills and then subtract lost income while you recuperate - it might equal a financial disaster at an already stressful time. This is where critical illness insurance comes into play.
Possible Uses For Your Critical Illness Insurance Lump Sum Benefit
- Your mortgage, auto loan, or credit card payments
- Replace your lost wages and your spouse’s while caring for you
- Your medical costs – deductibles, prescriptions, second opinions, out-of-network expenses, experimental treatments
- Your rehabilitation, training, or education for a new occupation
- Expenses for travel/lodging while seeking medical treatment outside of your community
- Expenses for child care, nursing care
- A relaxing vacation while you recuperate