What if you were diagnosed with cancer tomorrow? How would your life change? Now I know that things like cancer don’t happen to people like you and I. They only happen to celebrities like Christina Applegate, Lance Armstrong, Sheryl Crow, or my friend, Pam, who was diagnosed with breast cancer earlier this week.
Cancer is not fun to have or even talk about, but the facts are real. Every 21 seconds someone is diagnosed with cancer! A person can live a normal life and get diagnosed with a critical illness like cancer, have a stroke, or a heart attack. The majority of health insurance plans only cover fraction of the hospital bills, and on top of that you’d likely need to take time off work which makes paying bills and other necessities difficult. How is the average person supposed to handle a devastating situation like that?
That’s where critical illness insurance comes in. A CI plan will pay out a lump sum cash benefit upon first diagnosis for several covered critical illnesses, such as: cancer, heart attack, stroke, heart transplant, coronary bypass surgery, angioplasty, kidney (renal) failure, major organ transplant, and paralysis. This money can be used to spend on whatever you need to. Surviving a critical illness shouldn’t lead to more stress, having a CI plan eliminates the financial burden.
Plans can start at slow as 2$ a month for a 10 year term, $10,000 cash payout. In the event of a terminal illness you can spend your remaining days doing what’s important without having to worry about debts. Sounds pretty great right? It gets even better. Say you purchase some CI insurance, but, thankfully, you never get sick. Or you die from natural causes. Was getting the plan a waste of money? Not quite. If you had purchased a policy with a return of premium rider you are guaranteed your money back if you did not make a claim while your plan was in effect. In the event of death, the premium will be paid to your designated beneficiary.
For more information about CI plans and how you can get the right policy to suit your needs, contact us.