We all like to think that we’re immune to a serious illness, such as a heart attack, stroke, or cancer – but we’re not. Studies show that every year, over 1 million Americans suffer a heart attack. Even more get diagnosed with cancer. However, thanks to advances in medical science, it’s also very likely you’ll recover. But, will your finances? Critical illness insurance helps to protect you from the financial burden a major illness can create so you can focus on your recovery. It can pay a lump-sum benefit upon diagnosis of a critical illness or condition.
Without insurance, critical illness can have instantly negative effect on your family’s financial well being. As you’re recovering, you may have to face:
- Extended period of unemployment and loss of income
- Large medical and other out-of-pocket expenses
- And in some cases bad credit ratings or even bankruptcy
Critical illness insurance protects you from these financial difficulties. With a policy in place, you’ll:
- Receive a lump sum payment and will be able to cover all the unforeseen costs.
- Determine the benefit amount. How much do you need to get you through the rough times? You decide on the lump sum amount, the premiums reflect this amount and can remain affordable.
- Stay out of debt. The money can be used for any purpose, from medical expenses to home and car payments or food and groceries.
According to the American Association for Critical Illness Insurance:
- This year about 1.2 million Americans will suffer a heart attack…and 60% will survive.
- This year about 1.3 million Americans will be diagnosed with cancer…and 64% are expected to live more than 5 years.
- This year about 700,000 Americans will experience a stroke…and 70% survive.
- There are 22 million Americans alive today who have survived a heart attack, cancer, or a stroke…30% of those folks have lived over 10 years since their critical illness.
Misfortune can strike at anytime and it could happen to anyone. Discover the peace of mind of protecting your family. Contact us today to discuss your options.