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A Critical Illness Policy is a Revolutionary and completely new kind of insurance policy.
Thanks to medical advances, more and more Americans are surviving major medical crises - Cancer, Strokes, Heart Attacks, and Kidney failure. Medical Care has increased life expectancy resulting in people surviving a Critical Illness that would have previously resulted in death. We realize that many individuals who have been diagnosed with what at one time were considered fatal illnesses are now overcoming the odds and surviving. Unfortunately, Traditional life insurance is not designed for survivors.
The problem, however, exists when any person suffering one of these Critical Illnesses has to take off work in order to recuperate. In almost all cases the time period needed to properly recuperate is anything from three to thirteen months and sometimes longer. During this time period, the insured is unable to work, usually without income, or at a decreased temporary income, yet he/she and his/her family still have to live, eat, pay the mortgage, insurance, school fees, etc.
WHY THE NEED?
Do you know that 92% of working Americans CANNOT survive financially for more than 6 weeks if they are unable to produce income from their workplace?
It is NOT a disability policy NOR a traditional life policy… Although it does include the best elements of both.
U.S. HEALTH CARE STATISTICS
CANCER - 2 in 5 Americans will contract Cancer. Two-thirds of all Cancer related costs are non-medical expenses.
HEART DISEASE - Approximately 1.5 million Americans suffer a heart attack each year. Approximately 1,000 Americans suffer a Stroke every day.
SURVIVAL - 70% of all heart attack victims survive at least 3 years. Almost 75% of all Stroke victims will be alive 1 year later. 60% of people diagnosed with Cancer will survive at least 5 years.
THE PRODUCT
A Critical Illness policy is a product that pays a lump sum benefit to the insured upon Diagnosis of a covered condition such as:
Life insurance has always been a vehicle to provide financial security when we need it most. While traditional life insurance satisfies this definition in the event of death, it falls short when you survive a medical crisis. Your financial security is most threatened when you are told by a physician that you have suffered a heart attack or a stroke or that the tissue taken during a biopsy is, in fact, malignant.
A Critical Illness Policy eases the financial pressure by providing a LUMP SUM PAYMENT upon diagnosis of a covered condition. The proceeds can be used bythe insured for ANY purpose with no restriction. There is NO necessity for the insured to die in order to receive the benefits, as the policy pays out whether the policyholder lives or dies.
USE YOUR LUMP SUM ANY WAY YOU WISH.
ITS YOUR MONEY - THE CHOICE IS UP TO YOU!
The following riders can also be attached based on Provider selected:
Quality of Life Rider - Providing benefits for long term care services.
Family Term Rider - Provides insurance on spouse and children.
Accidental Death, Loss of Sight, and Dismemberment Rider - Provides a covered person with an additional amount of insurance in the event of an accidental injury. (i.e. loss of hand(s) or one or both feet.)
Increasing Benefit Rider - Automatically increased on an annual basis. This rider offers selected term durations. Duration's available and guaranteed at 5, 10, 15, 20, 30 years. Premiums are level for specified term. (If 5 year policy is selected, policy guarantees two additional 5 year renewals. If 10 year policy is selected, the policy guarantees two additional 10 year renewals.)
NO medical requirement on all policies up to $100,000.
Simplified Issue on policies up to $200,000.
* Please note some policies do not include a death benefit.
Critical Illness Coverage is a completely NEW CONCEPT of Insurance designed for one purpose only: To financially compensate upon the diagnosis of a covered Critical Illness..
Think of it this way - if you were struck down with a heart attack, needed by-pass surgery, and were out of commission for 3 months, what would your financial condition be?
Now for the first time ever, we have a policy that allows the average citizen to cover themselves at an affordable price against a calamity of life that can strike anyone at anytime.
This policy enables the insured to continue to live in dignity and security while it also keeps the family unit united. People can now feel secure in knowing that should a major illness occur they have the ability of being able to access the necessary funds to bring security, comfort, and stability back into their lives while recovering. This in turn minimizes the emotional stress and anxiety brought by financial hardship caused by illness and temporary disability.
This is not a replacement for Disability Insurance, Life Insurance, Long Term Care or Major Medical - but it can used as an important supplement.
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