Critical Illness Coverage
People are living longer and longer as medical advancements and healthcare technology continues to improve. Although survival rates are increasing for many medical conditions, the costs of extensive treatments as well as any costs associated with loss of income while in treatment can lead to medical bankruptcy.
Critical illness statistics that you should know...
- Men have a one-in-two lifetime risk of developing some form of cancer. For women, the risk is one in three.1
- The 5 year relative survival rate for all cancers diagnosed between 1996 and 2003 is 66%, up from 50% in 1975-1977.1
- Every 25 seconds, an American will suffer a coronary event.2
- On average, every 40 seconds someone in the US has a stroke.2
- For those suffering a critical illness prior to age 65, the probability of surviving is almost twice that of dying.2
1Cancer Facts and Figures, American Cancer Society. 2009
2Heart and Stroke Statistical Update, American Heart Association. 2009
Common critical illness conditions and surgeries that are covered under most plans include heart attack, stroke, life threatening cancer, paralysis, kidney failure, major organ transplants, terminal illnesses, and several others not listed here.
Critical Illness Insurance can be used as a stand alone product or used to help to fill the financial gaps not covered by traditional disability, accident, health, and life insurance. Normally, if you are diagnosed with a covered condition, Critical Illness Insurance will give you a lump-sium cash payment that you can use for any purpose you deem necessary. This could include funding your business, paying medical bills, and maintaining your family's lifestyle.
Let Health Insurance Depot help solidify your financial plan with a high quality critical illness policy that could one day help you focus on recovery and not bankruptcy.
