How will you pay for the things that your health insurance won’t?

More than 90% of medically related bankruptcies were caused by high medical bills, or costs so high that the family was forced to mortgage their home. In 2007, Harvard Researchers conducted a study on all personal bankruptcies filed that year. They discovered that 62% of those bankruptcies were due to medical problems. To their surprise, 78% of the filers had medical insurance at the start of the illness. The families that had medical insurance averaged an additional out-of-pocket expense of over $17,000 for treatment. More than 90% of medically related bankruptcies were caused by high medical bills, or costs so high that the family was forced to mortgage their home. The remaining 10% went bankrupt because a medical problem caused them to lose income.

 

 According to the Center for Disease Control and Prevention, “Chronic and Critical illnesses such as heart attack, stroke, cancer and diabetes cause 7 in 10 deaths and account for about 75% of $2 trillion spent on medical care.”

Without adequate protection, someone who suffers a critical illness might have to pull from saving or other financial sources in their time of need. Critical Illness insurance can help protect your family and assets.

  • Every 40 seconds someone has a stroke
  • Every 34 seconds someone has a heart attack

  • The average cost of a severe heart attack, including direct and indirect costs, is about $1 million

  • 1 in 2 men and 1 in 3 women develop cancer in their lifetime

 

Fill in the Gaps

What are examples of a Critical or Chronic illness?

This type of insurance will pay you a lump sum of money to fill the gaps of your medical plan. You can use that money for:

  • Deductibles, co-payments and co-insurance of you medical plan
  • Home health care needs and household
  • Travel expenses to and from treatment centers
  • Lost income
  • Child care
  • Everyday cost of living expenses, mortgage, cell phone, groceries 
  • Experimental treatments

Critical Illness
Chronic Illness