Critical Illness Coverage


Critical Illness Coverage with Three Categories of Benefits For Individuals and Groups

The facts:

  • Every 29 seconds someone in the the U.S. is having a coronary event₁
  • Every 24 seconds someone in the U.S. is diagnosed with cancer

  • Every 45 seconds someone in the U.S. is suffering with a stroke

1 and 3-Heart Disease and Stroke Statistics Update, American Heart Association 2006, 2- Cancer Facts and Figures American Cancer Society

 Critical Illness Insurance Plan-Coverage When You Need It!

  • Pays on three categories (most CI policies pay just once and you are done) up to triple the benefit amount are paid if the insured suffers illnesses from each of the three categories.

Cancer •
Heart/Stroke • Other Illness: Organ Transplant, Severe Burns, Renal Failure Paralysis, Loss of ADL’s, Occupational HIV, Burns and More

  • Pays cash directly to YOU on initial diagnosis of the Critical Illness.   No claims have to be submitted
  • Return of Premium Death Benefit a feature built in the base policy with no extra charge!Returns 100 percent of premiums, less any benefits paid, if insured dies of any cause.

Consider the difference that a cash payment of $10,000, $25,000, $50,000 or $100,000 would have made to each person when their critical illness was diagnosed. How would they have used the money?

  • Pay off their Mortgage
  • Pay off debts (credit cards, autos, school loans, etc.)
  • Supplement their own lost income, or a spouse’s lost income while he or she was caring for them
  • Get medical treatment (even experimental) and cover travel costs that health insurance wouldn’t pay for at a center of excellence miles from home.
  • Take a leave of absence from work to recuperate, or a vacation to leave the stress of the illness behind

Critical Illness Insurance Coverage is best suited for:

  • Anyone who has a family history of cancer, heart disease, stroke or other critical illness or genetic disposition
  • Anyone who is concerned about not having an adequate income to absorb the critical illness costs not covered by
    traditional insurance.
  • Spouses of high wage earners – if a doctor, lawyer or executive has to spend time away from work to care for a sick spouse, the business suffers. If the spouse has critical illness coverage, the family can immediately afford to hire in-home care, a nanny or other service providers to keep the home running smoothly.
  • Stay at home moms who cannot obtain disability insurance coverage. (same scenario as above)
  • Single parents who rely on one income. (same scenario as above)
  • Self employed clients and other high wage earners who have capped out their Disability Income Insurance limits (especially families who are unable to live at 60% of their income).
  • People in high-risk jobs often do not qualify for disability insurance. However, those occupations – such as firefighters,
    long-haul truck drivers or police officers may qualify for critical illness insurance (and some policies have coverage for severe burns and HIV coverage for Medical Professionals).
  • Individuals and Families with High Deductible, High Co-Insurance, High Out of Network plans.

    You may think, “But I have Health Insurance, I am covered!”

If you do not have extra savings set aside for a major illness, and do not want to deplete your savings and retirement funds, one does not have many options. Health insurance, if you’re lucky enough to have it, unfortunately doesn’t “pay for everything.” Think about friends and family members who have been through the financial devastation of a critical illness or cancer treatment. How long was the illness and how long did they receive treatment? Did they have a high deductible health plan and go out of network for treatment? How long were they off work? Did they have travel costs? How much did they have to come up with from their savings? $10,000, $20,000, $30,000 or more?

Cancer can be a very expensive disease for the patient and family members to receive the proper treatment needed. Experimental treatments and medications are typically not covered by insurance and this money will allow a patient to afford those costs and have a better quality of life. Also, the money can be used for all of the non medical bills that will eventually begin to stack up. Most patients will need to take time off of work this money will help pay in addition to disability insurance, since typically disability insurance only covers a portion of your paycheck (usually around 60%). It will also help pay for travel expenses, lodging, and meals for the caregiver, spouse, friend, or family member. Who pays your mortgage? Car payments? Car Insurance? This is why Cancer and Critical Insurance is so needed.

Cancer and Critical Illness policies provide a one lump sum payout and can be used however you need to use the money! The payout helps to:

  • Pay the mortgage
  • Pay car payment
  • Pay light bills
  • Pay out of pocket medical bills, deductibles, co-insurance, out of network, and items not covered by insurance (such as some experimental treatment)
  • Pay for travel expenses for treatment at a cancer center of excellence
  • Pay the difference in your short term disability insurance from work or that your spouse is off work taking care of you or vice versa.
  • The payout is a lump sum, cash payment. It’s your money and you aren’t told how to spend it

    Cancer and Critical Illness Insurance:

    *Is not traditional Health Insurance- Insurance companies pay the policyholder/client directly, not the hospitals or doctor

    *Pays regardless of any other Health & Medical Insurance

    *No Itemized Payouts- Submit diagnosis summary only, not continued “explanation of benefits”

    *No Medical Tests – Simplified Underwriting no medical testing required!

    *No “network”

    *Submit claim directly to insurance company

    *Individual must be cancer free for 10 years to qualify. (Cancer Insurance and Full Critical Illness coverage is not available for those who are currently diagnosed. Please click on the “contact us” button on the left for other options)

    Unfortunately, some individuals wait until after a medical problem has been diagnosed before they consider supplemental coverage for cancer or other critical illnesses. If you are genetically in a high-risk group, the best time for you to purchase additional healthcare insurance is while you are still healthy.

       How much Critical Illness Coverage Do I Need?   

       A good rule of thumb is to take 24 months of expenses (monthly mortgage, utilities, car payment, loans/debt, child care) and add $5000 to cover the gap in a high deductible plan.                Example: Monthly expenses total $2000 x 24 =$53,000   

     For high wage earners with Disability Insurance and high monthly bills including running a business, add the gap in your DI policy of 40%.

I have a Pre-Existing Condition?  How can I get coverage?

You must be ten years cancer free (subject to underwriting) to apply for a Critical Illness policy.   You may qualify for a Heart/Stroke Only policy with additional overages
Previous heart disease stroke, diabetes, or over the height/weight guidelines may qualify for a cancer only insurance policy.