Critical Illness Insurance complements your Health and Accident Insurance, and can ease the financial impact of a Critical Illness by providing a lump-sum benefit to help pay your out of pocket expenses and supplement lost income. Due to recent changes in medical insurance legislation, many employers and individuals are choosing health insurance plans with higher deductibles and co-payments. With this type of plan, there are major trade offs. The price you pay for a lower premium is shouldering more of your out-of- pocket health care costs.
Protecting your Family and Business
No one is immune to the rick of a Critical Illness and the cost associated with one. Critical illness insurance helps make it easier to stay on your feet financially so you can keep moving forward. Critical Illness Insurance offers you an affordable way to protect your income and bear the financial burden of a Major Medical issue. In the event of Critical Illness the policy will pay a lump sum benefit of anywhere from 10,000 to 100,000 dollars.
Because the expenses associated with a Critical Illness it can put your family in serious financial risk. A study done by Harvard University suggests that more than 62% of all personal bankruptcies are caused by the cost of overwhelming medical expenses.
When choosing coverage amounts, consider your:
- Financial obligations
- Household income
- Financial resources
- Recovery time
If you believe that Health Insurance alone will protect you from bankruptcy, think again; of the 62% of personal bankruptcies due to medical expenses a shocking 78% reported having some form of health insurance. This disproves the myth that medical bills only affect the uninsured.
Critical Illness Insurance complements your health insurance and as your Insurance Consultants we structure this invaluable coverage as part your your Total Healthcare Solution.