Critical Illness Insurance - A Cash Benefits Survival Form of Insurance
by Paul M. League, QFP, CFP® · www.LeagueFinancial.com
Advances in medical science are resulting in the survival of many
severe health conditions but, even with good health insurance, many can not
financially survive the costly, compounding expenses, often caused by a major
critical illness.
Probably, you too know of someone who has suffered a critical
illness? What if this were you?
Would your family be protected from the double financial
burden arising out of rehabilitation costs, loss of income, home and car
modifications, experimental treatment and increased medical care costs...and,
what about your Mortgage or the costs of running your small Business?
Critical Illness Insurance is likened to Life Insurance
turned into living insurance to look after people while living, not after
they die, and doing so by providing them with HARD CA$H to pay
their ongoing financial demands and obligations.
Critical Illness Insurance pays CA$H BENEFITS when an insured survives (usually over 30 days), such defined
critical illnesses as the following "sample listing" shows:
Hypothetical Plan ~ A Benefits Sampling Example (typically
such illnesses must occur 60 days after a policies effective date, with benefits
paid regardless of how long one lives and regardless if one is able to work):
1. Cancer (except Leukemia, Stage 1 Hodgkin’s, & non-invasive skin cancers.
Malignant melanoma is covered).
2. Heart Attack (myocardial infarction that causes death to a portion of the
heart muscle).
3. Stroke (cerebral vascular incident -causing 30 days or more persistent
neurological impairment from date of diagnosis;
transient ischemic attacks-”TIA’s”- excepted).
4. Organ Transplant (human heart, lung or lungs, liver or bone marrow. Autologus
excepted).
5. Kidney Failure (irreversible failure of BOTH kidney’s leading to regular
renal dialysis or kidney transplantation).
6. Coronary Bypass- equal to 25% of the Cash Benefit (to correct narrowing of
coronary arteries or branches).
7. Angioplasty- equal to 10% of the Cash Benefit (to correct a 70% or greater
blockage).
TERMINAL ILLNESS (a bonus feature offered in some plans, and usually at
no added cost): When purchasing a Cash Benefit of $100,000 or more then you can
receive a Terminal Illness Benefit equal to that benefit (payable if you have a
certified terminal illness with a life expectancy of 12 months or less and no
reasonable prospect of a cure, less any previously paid partial payments).
TOTAL DISABILITY BENEFIT (an optional rider offered by some carriers):
Example: Equal to the Cash Benefit amount you purchased
(less any previously paid partial payments; add 15% to cost).
Disability must last beyond 6 months and be doctor determined as
lifetime permanent. If employed you can’t do any job, and if not employed you
have a functional incapacity that permanently prevents you from engaging,
without help, in 3 or more activities of adult daily living (“ADL’s” -
continence, dressing, eating, transferring, toileting, bathing); mental illness
disabilities excepted; ORGANIC BRAIN DISEASES LIKE PARKINSON’S & ALZHEIMER’S ARE
TYPICALLY COVERED UNDER SUCH RIDERS).
SURVIVAL STATISTICS^ are higher today then ever (compare 1990 back to
1950): Heart Attack: 67% survival vs. 45%; Cancer: 54% vs. 30%; Stroke: 69% vs. 24%.
Nearly 59 million Americans currently live with some form of cardiovascular
disease, 3 million Stroke & 8 million Cancer (1 in 3 women & 1 in 2 men will be
affected^^). Chances of surviving a critical illness are on the rise, and
so is the need for insuring the delivery of cash benefits to help offset the increased
financial liabilities of a critical illness.
REMEMBER: Good Health Buys It, Money Only Pays For It!
IF YOU CAN YOU QUALIFY - THEN GET COVERED NOW!
Coverage is generally available to all persons who are: in good
health, within normal height & weight standards, not on active military duty,
not receiving Worker’s Compensation or other forms of disability payment,
currently within Ages 18-70 and don’t have more than 1 immediate family member
diagnosed under the age of 55 with heart or kidney disease, stroke, cancer, or
insulin diabetes [health condition exclusions are those pre-existing conditions
present 12 months before to 12 months after effective date. Prior coverage
credit given for prior non-supplemental medical, hospital or surgical coverage
not lapsed over 30 days. Premiums can only be changed if the table rates
covering all persons on the Group plan are changed. The policy can’t be canceled
unless you fail to pay timely premiums].
ACT NOW ... let us help you SURVIVE financially by getting you HARD CA$H when
it's needed most and by helping you to protect your hard earned money - not
compete for it.
Call: 1-800-482-5347
Paul M. League, QFP, CFP®
California Insurance License #0610019
LEAGUE FINANCIAL & INSURANCE SERVICES
www.LeagueFinancial.com
^/^^Source: Cancer Facts & Figures - 1995, American Cancer
Society and Heart and Stroke Stroke Facts: 1995 Statistical Supplement, American
Heart Association.
