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Plan Benefits

Why is having Critical Illness insurance so important?

Your family’s expenses will continue if and when a critical illness occurs.

Studies show that the average family spends about $7,071 during a time of critical illness and recovery.1 And while financial experts recommend having 3 – 9 months of living expenses set aside to help in an emergency situation like undergoing a serious illness, with today's economy, fewer than 4 of 10 American adults have an emergency fund to fall back on.2

Quality health and disability income insurance plans aren’t always enough. There may still be coverage gaps. Disability income plans cover a portion of your income while health insurance may leave you with some expenses to pay including:

  • Health plan deductibles
  • Prescription copays
  • Out-of-network treatments
  • Alternative treatments

Critical illnesses can happen at any age and more often than you may think.

The odds of you or a family member suffering a critical illness are actually quite surprising. Studies have shown:

  • The average age for onset of a critical illness is 43.3
  • In a typical year, more than 920,000 Americans will have a heart attack.4
  • 1 out of every 2 men will be diagnosed with cancer at some point in their lives.5
  • 1 out of every 3 women will be diagnosed with cancer at some point in their lives.5

Critical Illness insurance can help safeguard your finances when you or a covered family member experience a Covered Condition and meet policy and certificate requirements. This coverage provides you with an initial lump-sum payment of $15,000 when your family needs it most. The payment you receive is yours to spend as you see fit and in addition to any other insurance you may have.

Critical Illness insurance pays you a lump-sum payment for diagnosis of the following conditions:

  • Category 1 – Cancer-Related Conditions, including: Full Benefit Cancer,6 Partial Benefit Cancer,6,7 and Skin Cancer.8
  • Category 2 – Heart-Related Conditions, including: Heart Attack, Stroke,9 Coronary Artery Disease.7
  • Category 3 – Other Conditions, including: Kidney Failure, and Major Organ Transplant.10

Payments will be made directly to you, not to the doctors, hospitals or other health care providers. You will receive a check mailed directly to your home. The payment you receive is yours to spend as you see fit and may be used to cover ongoing household bills like:

  • Groceries
  • Mortgage and car payments
  • Child care
  • Transportation or lodging
  • Or any other way you want; the choice is yours