Major illness header

I JUST GOT CANCER!


Now What?

I AM SCARED - YET - FINANCIALLY I’M NOT WORRIED

Receiving a cash lump sum benefit - upon diagnosis affords you the ability to focus on your treatment, not your finances while protecting the family from unexpected costs. With your diagnosis comes the reality of new medical bills and prescription costs, needing time off for treatments and the reality you may need additional help. Get Your Quote

ADVANTAGES - SIMPLE & DIRECT

Upon diagnosis of a covered condition, a check is sent to YOU, the policyholder, not the health care provider. You do not have to submit receipts or medical bills to an insurance company.

Examples include:

  • Paying health insurance deductibles and copayments
  • Services or treatments not covered by health insurance
  • Ongoing expenses, like mortgage, utilities and home maintenance
  • Expenses for travel to receive treatment
  • Replacing lost income while you are out of work
  • Hiring home health care or child-care services

Premiums can not change as long as you own the policy.

There’s no elimination period, so the policy benefit can be used immediately. Policy benefits can be used for anything you choose. It is your money. You control how to spend it. If a family member is willing to help but has to take time off of work, you can pay that family member out the policy benefits, no problem.

Benefit Plans

There are three plans you can choose from...

  • Cancer
  • Heart Attack & Stroke
  • Critical Illness

...and two application processes*:

  • The Express Issue process which includes benefit amounts up to $50,000
  • The Simplified Issue process wich includes benefit amounts from $51,000 to $100,000

*See Policy Details Tab below

Coverage options include:

  • Individual, Single Family and All Family members
  • Benefit Amounts from $10,000 to $100,000
  • Ages covered from 18-89*

Additional Benefits Include:

  • Intensive Care Unit pays a daily room benefit for each day of confinement in an intensive care unit
  • Cash Value provides a percentage of all premiums paid for the policy and all riders, minus the amount of any benefits paid in claims for all insured persons
  • Return of Premium upon Death (Critical Illness Plans)

*Issue ages, policy features and riders may not be available with all policies or approved in all states.

Quote Tool

10 Minute Application - What To Expect

There are two applications processes depending on benefit amount requested:

  • Express Issue Application: Yes/No questions for benefit amounts up to $50,000
  • Simplified Issue Application: Medical/Pharmaceutical records review for benefit amounts up to $100,000

After savng your quote and providing contact information (below), an agent will contact you and set up a time to discuss your quote and complete an application.

The application process takes about ten minutes.

Things you will need:

  • Access to a computer to receive emails in order to provide consent to start and complete the application
  • Basic information: Your date of birth, social security number and home address
  • Bank account information for payment: Name of your Bank, Account and Routing numbers (credit card is not accepted)
  • If you are replacing any other insurance policy, you will need the carrier name, insured name, face amount and termination date

60% of Expenses Not Related

According to the American Cancer Society, 60 percent of cancer related expenses are not health care related expenses. This illustrates just how valuable a Cancer policy can be.

Policy Advantages:

  • The insured receives the policy benefit upon diagnosis
  • The policy benefit can be used immediately (no elimination period)
  • Policy benefits are tax free and can be used for anything the insured chooses

Coverage for a Cancer policy includes 100% of the benefit amount for internal cancer or malignant melanoma.

Example Cancer Policy Scenario

Let’s assume Karen receives a cancer diagnosis and is unable to work while receiving treatment.

Her health insurance policy has a $2,500 deductible, which means that’s the amount she must pay out of pocket.

In addition, with no money coming in, she still has ongoing expenses (mortgage, utilities, groceries, etc.) She also needs to pay for travel expenses so her daughter can make an extended visit to be with her during treatment.

Fortunately, Karen has a Cancer policy that pays a $20,000 benefit. That means she receives $20,000 upon the diagnosis of cancer, giving her the funds she needs to pay health insurance deductibles plus money that can be used to help cover other expenses.

735,000 Every Year

Every year about 735,000 Americans have a heart attack. Of these, 525,000 are a first heart attack and 210,000 happen in people who have already had a heart attack.

Policy Advantages:

  • The insured receives the policy benefit upon diagnosis
  • The policy benefit can be used immediately (no elimination period)
  • Policy benefits are tax free and can be used for anything the insured chooses

Covered Conditions

  • Heart Attack & Stroke Conditions – 100% Coverage
  • Coronary Artery Bypass Surgery – 25% Coverage
  • Coronary Angioplasty Surgery – 25% Coverage

Example Heart Attack Policy Scenario

Let’s assume Tom has a heart attack and is unable to work while receiving treatment.

His health insurance policy has a $2,000 deductible, which means that’s the amount he must pay out of pocket.

In addition, with no money coming in, he still has ongoing expenses (mortgage, utilities, groceries, etc.). He also needs to pay for travel expenses so his daughter can make an extended visit to be with him during treatment.

Fortunately, Tom has a Heart Attack and Stoke policy that pays a $20,000 benefit. That means he receives a $20,000 policy benefit, giving him the funds he needs to pay health insurance deductibles plus money that can be used to help cover other expenses.

24% Chance

25 year old male non-smoker has a 24% chance of having a critical illness prior to turning age 65.

Policy Advantages:

  • The insured receives the policy benefit upon diagnosis
  • The policy benefit can be used immediately (no elimination period)
  • Policy benefits are tax free and can be used for anything the insured chooses

Covered Conditions

  • Critical Illness covers 100% of benefit amount for Cancer, Heart Attack & Stroke as well as Alzheimer’s disease, blindness, deafness, kidney failure, major organ transplant or paralysis
  • In addition, Critical Illness pays 25% of benefit amount for coronary artery bypass surgery or coronary angioplasty
Return of Premium Benefit - In addition to the coverage above, a Critical Illness policy will pay the cumulative paid premiums, net of any benefits already paid, as a death benefit if the primary insured dies while covered under this policy.

Example Critical Illness Scenario

Let’s assume Mark needs a kidney transplant and is unable to work while receiving treatment.

His health insurance policy has a $1,500 deductible, which means that’s the amount he must pay out of pocket.

In addition, with no money coming in, he still has ongoing expenses (mortgage, utilities, groceries, etc.). He also needs to pay for travel expenses so his son can make an extended visit to be with him during treatment.

Fortunately, Mark has a Major Illness policy that pays a $20,000 benefit. That means he receives $20,000 upon the diagnosis, giving him the funds he needs to pay health insurance deductibles plus money that can be used to help cover other expenses.

Frequently Asked Questions

How does coverage work for this type of policy?

Generally, this type of coverage provides for a one-time payout. Your coverage stays in force, for a period, while you are making your policy premium payments or until a lump sum payment has been made to the policy holder.

When does my policy terminate?

Your policy will end on the earliest of: the date we pay 100% of the lump sum benefit for the primary insured, unless lump sum benefits continue under an attached rider; the date the term period shown on the policy schedule ends; the date we receive your written or verbal request to cancel your policy, or any future date you specify in your request (in either case, the grace period will not apply); the policy renewal date, if the premium was not paid before the end of the grace period; the date of the primary insured's death; or the date coverage ends for the primary insured in accordance with the 30-Day Probationary Period for Cancer provision.

What is Express Underwriting?

The Express Underwriting process involves answering yes/no questions. Express Underwriting is for benefit amounts up to and including $50,000.

What is Simplified Underwriting?

The Simplified Underwriting process consists of the yes/no questions, Medical Information Bureau (MIB) and Pharmaceutical database inquiries and random telephone interviews. Simplified Underwriting is for benefit amounts between $50,001 and $100,000. Note: Accumulative lump-sum face amounts above $50,000 across all lump-sum or critical illness policies / riders may require additional underwriting requirements.

Coverage Summary

 

Major Illness Insurance Premium Calculator

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