There are two main reasons why Americans choose high deductible plans: they have been forced to by their employer and the premiums are cheaper.
Insurance companies are scaling back more and more on the ancillary services they are willing to pay for such as certain terminal and critical illness procedures that have been proven to fight cancer and other diseases. This cut back often leaves Americans to pay for a heavy portion of their medical bills if a needed preventive service is not covered by their healthcare plan.
In these cases, having Critical Illness coverage is extremely valuable. The policy will pay a tax-free cash benefit before of a minimum of $10,000! This money can be used to pay down the deductible so expenses can be 100% covered by the healthcare company OR allow you to avoid filing a claim with the healthcare company altogether. Depending on the Critical Illness policy, the maximum coverage is $100,000, so again, filing a claim may not be necessary.
Critical Illness also has an automatic payout in the form of a cash benefit up to $100,000 in the event the insured has cancer, heart attack, stroke, Alzheimer’s, kidney failure, blindness, deafness, or paralysis. The policy also comes with a return of all premiums if the insured does not die from any of the aforementioned illnesses.
Don’t wait until it’s too late. Call our office to schedule your Critical Illness evaluation today!
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