Critical Illness
Thanks to recent medical advances, many people survive heart attacks, strokes and other serious illnesses. But health care costs and the inability to work can cause financial stress while income decreases.
Financial Impact
Over half (62.1 percent) of all U.S. bankruptcies are caused by soaring medical bills.* An American Journal of Medicine study states the average person who filed bankruptcy earned a middle-income salary and had health insurance but was financially crippled with out-of-pocket expenses for co-payments, deductibles, and non-covered medical services.
The Critical Illness Solution
A Critical Illness Insurance policy can reduce the financial impact of a major illness by paying money directly to the primary insured person when it is most needed. Benefits are provided when an insured person is diagnosed with a specified critical illness or undergoes a covered procedure, even if he or she is unable to work or has other health insurance coverage. Recipients may use the money as they choose – for example, to pay a home mortgage, clear up debt or supplement family income so a care-giving spouse can take time off from work.
*The American Journal of Medicine, Medical Bankruptcy in the United States, 2007: Results of a National Study 2009.
Steps to building a Critical Illness plan in Gulfport, Biloxi, Long Beach, Ocean Springs, Hattiesburg, Jackson & Pascagoula, Mississippi as well as Texas, Louisiana, Alabama, Tennessee & Florida.
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