Critical illnesses like diabetes, heart attack and stroke can strike suddenly and be as devastating to your finances as they are to your health. Be prepared with a Critical Illness Policy.
“I thought I just had a little infection and wasn’t worried about it. My wife made me go to the emergency room when my temperature got to 104, and the next thing I knew I woke up in an ambulance…”
That simple infection resulted in doctors diagnosing an acquaintance with diabetes, but the diagnosis came with the loss of a foot. He’s recovering, but now has been forced to take several months off work and make some major changes in lifestyle.
I don’t know what his insurance or financial situation is like, but most of the time, people who suffer critical illness such as this and lost income because of it, also suffer financially. It is a fact that nearly 2/3 of all personal bankruptcies are the result of medical debt. High co-pays and deductibles for medical treatment on top of lost wages, rehabilitative treatments and care add up. Add to that the regular monthly bills, mortgage and groceries and the collection calls start coming faster than the payments can go out.
The solution is a Critical Illness Insurance Policy that covers you in case something happens like what happened to the man I met. Diabetes, heart attack and stroke are so often undetected and happen without warning. They are treatable and oftentimes people recover fully, but not without great financial strain. A Critical Illness Policy gives you the peace of mind to be able to recover and continue to pay your monthly bills in the process.
You can be paid in a lump-sum as soon as you’re diagnosed, over and above other benefits you receive so you can choose how to use the funds. You can use the funds to pay coinsurance and deductibles, make payments to your mortgage, vehicles or other household bills, or use it to make sure your family’s needs are met while you are laid up. You choose.
Critical illness doesn’t have to devastate you and your family financially. While you recover you can continue to provide for your family with the benefits of a Critical Illness Insurance Policy. Call your AC Financial Adviser to talk about the coverage that fits your needs.
