Critical Illness Insurance=Dignity

 

With an aging population and increasing advances in medical technology, our health care system is soon going to become overburdened. People are surviving critical illnesses like never before and living longer and longer.

There have always been three things in life that we need to plan for and protect ourselves from – dying too soon, becoming sick or disabled or living too long. Surviving a critical illness falls under living too long category.

This is where medical technology has saved your life, but you are left with no money to afford proper medical care or enjoy your life. When asked which illness concerns them the most, Americans generally will respond with the C word- Cancer. Over 1,500,000 Americans are diagnosed with cancer each year in the United States. One fourth of all Americans will come down with heart disease or have a heart attack. Heart attacks and cancer are no longer an automatic death sentence that they once were. Even though you can expect to be treated better and you can expect to live a longer life, the cost of doing so is staggering.

How would your life change if you were to come down with a lifestyle threatening illness such as: Stroke, Cancer, Blindness, Heart Attack, Severe Burns, Coronary Bypass, Loss of Speech, Major Organ Transplant, Kidney Failure, Paralysis, Aortic Surgery, Deafness, Severe Head Injuries, Coma, Parkinson’s Disease, Alzheimer’s, Multiple Sclerosis, Loss of limbs, Motor Neuron Disease, Occupational HIV, Heart Valve Replacement or Benign Brain Tumor? What impact will it have on you or your family?

You would be forced to make major career and financial decisions. Will you be forced to go back to work? Will you be ABLE to go back to work? Will you have savings to pay for the additional health care costs? How long will those savings last; how long will it take to destroy a lifetime of savings? A lot of people have to tap into their retirement accounts, sell their homes or depend on family or charity for assistance. Who do you want to depend on?

Critical illness insurance can provide coverage for any illness that is listed in the policy, such as the ones listed above. You can select the amount of coverage you desire with most policies being in the $100,000-$250,000 range. This benefit is paid directly to you upon diagnosis of the critical illness and is tax free. These policies have provided people the dollars they need, when they are in need. Disability insurance pays you a monthly amount while you are disabled but what if you’re not disabled? Critical illness insurance benefits are paid in a lump sum to you to do what you want with it. How the money is spent is entirely up to you. Even if you return to work you still receive the lump sum payment.

You might think this coverage is for old people but that isn’t the case at all. The average age of a person receiving a benefit is in their early forty’s. Another interesting fact is that 91% of heart attack patients would have survived the heart attack and qualified for a critical illness insurance benefit payment; 9% would not have survived the heart attack.

The medical profession is lengthening our lives and saving more people from critical illnesses. As you can see, it is almost more important to have critical illness insurance than life insurance! Critical illness insurance when you need it can allow you to retain your dignity and the quality of life you are used to.