People are living longer today. Although survival rates are on the rise for many medical conditions, a debilitating illness and the costs associated with loss of income can lead to medical bankruptcy.
A study by the American Cancer Society found 20 percent of people with health insurance still couldn't afford cancer therapy. In fact, the survey found that a year of treatment for blood cancers such as leukemia could reach more than $1 million, which would max out the limits of most health insurance policies.
Even with advanced medicine and a health insurance policy on your side, if you are diagnosed with a life-threatening illness, there is a possibility that you would not be able to afford the treatments recommended and needed. Critical illness insurance can help.
Critical illness insurance provides a payment if you experience a critical illness that is covered under the policy contract. You don't have to be disabled to collect. Unlike disability insurance, you don't have to be employed to receive the benefits.
Some medical conditions covered by critical illness insurance:
A critical illness insurance payment is typically made in a lump sum and can be spent however you please — use the money for medical bills, a wheelchair, retrofitting your home, your mortgage or other bills, home health care or even a Hawaiian vacation. Medical conditions that qualify usually include serious injuries, diseases and major surgeries.
The critical illness specialists at Apple Insurance & Financial Services will review your needs and provide complete solutions in all areas of critical illness coverage. Call us today for a free consultation.