Critical illness insurance in today's world is very necessary. People who are surviving from major health concerns, in that same process need funds for recovery. With that, lets discuss how a Michigan critical illness policy works.
The critical illness policy that we offer gives a Michigan consumer protection in regards to heart attacks, life threatening cancer, kidney failure, strokes, and organ transfers.
* I am sure we all know someone who has had a heart attack. According to Americanheart.org, 425 thousand people have died from a heart attack since since 2006. However, what is more important is people are surviving after heart attacks. From "1996 to 2006 the death rate from coronary heart disease declined 34 percent." With this stat, people should understand the need for critical illness protection.
* Cancer.org recently brought out their stats from 2009. Cancer has been the number two killer since 06, only behind heart attacks. What is most important? "Compared to the peak rate of 215.1 per 100,000 in 1991, the cancer death rate decreased 16% to 180.7 in 2006. Rates for other major chronic diseases decreased substantially during this period."
By reading this posting, you should understand my point. Consumers are surviving from heart attacks, cancer, strokes, kidney failures, and even organs transfers. So how does a critical illness policy work?
The consumer picks and benefit ($10,000 - $100,000) and if he/she suffers one of the five illnesses that I have named, then the benefit is paid out. You also receive 25% of your benefit if you need angioplasty or artery bypass. It is that simple in a nutshell. That payment can be used to pay off your health insurance deductible, traveling bills, etc.
When it comes to pricing, it is beyond affordable.
Age 35 male, $10,000 benefit, non tobacco $15.42 $25,000 benefit, $31.88
Age 35 female, $10,000 benefit, non tobacco $11.59 $25,000 benefit, $22.23
Age 50 male, $10,000 benefit, non tobacco $34.32 $25,000 benefit, $79.04
Age 50 female, $10,000 benefit, non tobacco $24.02 $25,000 benefit, $53.30
The one question I get with regards to our critical illness is what happens if I die without using the policy? I pay and what do I get? With our policy, if you pass without using your policy, your beneficiary will receive all the premium you have put in. Your money does not go to waste.
Another perk with this policy, is if we combine it (husband + wife), the premiums actually become cheaper.
This policy is underwritten, so be prepared to answer health related questions.
When you sit back and actually think about who you know, it has to be concerning if you know of someone who has suffered one of the illnesses mentioned. They probably had to pay their health insurance deductible, medications, and possibly even bills if they were out of work for a substantial amount of time. With critical illness protection, all those worries could be taken away. You do not need those headaches mentioned above if you are recovering from a serious illness.
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