My Insurance Insider and Finance Blog

photo credit: The Labour Party

Did you know the facts,when we talk about critical illness, that
* 60% of all cancer victims survive at least 5 years;
* 75% of all heart attack victims survive at least 3 years;
* 70% of all stroke victims alive 3 years;

These all are possible due to the awesome advancement of medical science and truly we are living longer than before when these type of medical conditions used to kill people mercilessly.

Well, what the hail are all about having so many insurances such as disability insurance, life insurance, long-term care medical insurance, and so? I can read your mind. You see every insurance policy has a different aspect and some kind of limitation in its purpose of proving coverage.

Now, let’s talk about LTD disability insurance. Does it cover all your 100% replacement income in case you happen to be a cripple person? Yes, normally it can cover by your LTD insurance. But prevailing situation that we’re passing through today tells us a different story. No matter how rich we’re, everyday we expose to more challenges in life in defeating the prevalent killer diseases such as invasive cancer, heart attack, stroke, renal disease, occupational HIV, or crippling diseases like epilepsy, coma, paralysis and what not.

These all need a huge money for a longer period of time. And what about your mortgage payment or car repayment or retirement investment plan? Indeed you may have life insurance, health insurance, disability insurance that may not enough to cover your monetary discrepancy left when you face with a critical illness. Life insurance never pay when you alive. One fact that really surprises you that only 3% of mortgage foreclosures are due to death, while 48% of mortgage foreclosures are due to CRITICAL ILLNESS! This is where Critical Illness Insurance comes in for your rescue.

And did you know that your health insurance company typically pays 80%-100% of covered medical costs minus any deductible? And according to the American Cancer Society, 66% of total costs of cancer are “non-medical”?

Critical Illness Insurance makes a difference in people’s lives. You need Critical Illness Insurance to:

1. Pay off your debts such as mortgage loan, car loans immediately when your creditors are demanding them amidst your all round miseries.
2. Replace your income for an undefined period of time.
3. Entertain your family as before and make arrangement for the usual pleasure trips.
4. Spend your leisure time with your family members and helping them out as before.
5. Switch over to a less stressful and suitable job.
6. Pay off your uncovered medical bills, deductibles, and the related expenses.
7. Ensure your children’s education to continue and their health care.
8. Ensure your retirement and other future planning as usual.
9. Do whatever you want with your cash benefit. In a nutshell, you can continue whatever you were doing in your previous normal life.

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