“It’s all about medical advances that have increased survival rates,” says Dr. Marius Barnard, the father of critical illness insurance and the cardiac surgeon who helped pioneer the first heart transplant. Heart attack, stroke, and cancer patients now survive and recover – at a cost.
The sad truth is that the miracle of today’s medical procedures may save your life but create long-term financial challenges for you.
An individual can expect a major insurance claim (excluding maternity) once every 20 years.
The American Hospital Association states that of these hospital admissions, 82% are due to either: critical illness (68%) or accidents (14%) resulting in an average of 7.6 months of recovery with a total or partial loss of income.
75% of all healthcare dollars are spent on these claims and 52% of all bankruptcies are caused because of them – even though 59% of these people had health insurance.
Critical illnesses are not just a risk for the elderly.
Here are the out-of-pocket cost issues to consider:
The costs for Critical Care insurance are stable and in some plans, rates remain flat for life. This insurance enables you to recover from one of these critical illnesses without worrying about how you are going to pay the mortgage or keep your business open.
Can you really afford to continue to have this exposure to financial ruin given the moderate cost to put a plan in place to protect you and your family? Call me or send me an email so that we can discuss your needs resulting in a quick personalized quote for you to consider.