Jeff Knoche

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Jeff Knoche

Insurance Services

(800) 593-2763

 

 

 

 

 

Critical Illness Insurance                     Get A Quote

 

An accelerated benefit rider.

 
Introduction:
 
 

 

What is Critical Illness?

 

 

Why do you need Critical Illness Insurance?

 
What is Critical Illness
 
 

It's a living benefit.

 

A form of supplemental health insurance.

 

Pays a lump sum (tax free) benefit to you if you are diagnosed with a covered condition.

 

It helps replace lost income and offset expenses associated with a Critical Illness.

 

You have the complete flexibility to use the lump sum payment any way you like.

 
Covered conditions on policy
 

Heart attack

 

Life-threatening cancer

 

Stroke

 

End-stage kidney failure

 

Major organ transplant

 

Permanent Paralysis

 

Loss of limb

 

Life Insurance

 

Pays for dying not the consequence of surviving a deadly illness.

 
Health Insurance
 

Pays for the illness not the consequence of the illness.

 
Disability Income
 

Protects income due to long or short-term illness not the consequences of the illness.

 
LTC Insurance
 

Pays for permanent incapacitation due to chronic illness not the consequences recovery.

 

Critical Illness Insurance
Pays for the
Consequences;
Not the Event.

 
Who do you know who’s had:
 

 

Cancer

 

 

Heart attack

 

 

Stroke

 

 

Kidney Failure

Make a list of those people.
 
Did you know …
     

The Probability of incurring a critical illness before the age of 65 is four times as great as dying from any cause. *

American’s Are Living Longer

What does this mean?
 

 

People are living longer, often with a life altering illness

 

 

Modern medicine can save the patient but may cause financial drain on family resources

 

 

Traditional insurance products fall short in “treating”this dilemma

 
As a result we all face new risk!
 

 

Every day in the U.S., Over 3,000 people have A heart attack**

 

 

Someone in the U.S. Suffers a stroke every 45 seconds**

 

 

1 in 2 men, and 1 in 3 woman, can expect to contract cancer***

 
Good News…Odds Are You Will Survive
 

 

Over 7 million heart attack survivors are alive in the U.S.

 

 

The 5-year relative survivors rate for cancer is 64%

 

 

About 5.4 million stroke survivors are alive in the U.S. today

 
Bad News Is That America in not prepared
 

 

Loss of income

 

 

Time off work

 

 

Medical expenses not covered by health plan

 

 

Home or automobile modifications

 
Living (Survival) Cost
 

 

Medical cost not covered by insurance

 

 

Co-payments, deductibles

 

 

Money to allow your spouse to take a leave of absence

 

 

Loss of income –disability insurance only pays part of your former income.

 

 

Pay your mortgage payment, bills, and other debts that don’t go away because you are ill.

 

 

Childcare and or Domestic help

 

 

Pay for travel to treatment centers

 

 

Preserve assets and equity

 

 

 

 

LivestrongPoll
 

 

The Lance Armstrong Foundation released the “LivestrongPoll”of more than 1000 cancer survivors.

 

 

49% said that their non-medical needs weren’t being met.

 

 

53% of those surveyed said dealing with emotional, psychological and financial issues were often more difficult for them to cope with than the medical ones associated with the disease.

 

 

43% had a decrease income as a result of their cancer

 

 

25% went into debt

 

 

39% incurred over $10,000 of debt as a result of their cancer.

 

 

 

 

Financial Impact Cause by C.I.
 

 

In a study by the journal “health Affairs”, they distributed questionnaires to 1,771 bankruptcy filers in 2001 in CA, IL, PA, TN, and TX. That year there were 1.46 million bankruptcies in the U.S.

 

 

Medical bills were cited as the cause in 46.2% of the personal bankruptcies in the study.

 

 

75% of those seeking court protection from creditors had health insurance at the start of the illness.

 

 

56% of those filers owned a home and the same number had attended college.

 

 

More kids have to endure parents’ bankruptcies than divorces

       
CRITICAL ILLNESS INSURANCE
      “Not because you are going to
die, but because you are going to
live.”
      Dr. Marius Bernard

 

* General Re Life Corp. 2004
**American Heart Association 2005
*** American Cancer Society 2005
 
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