Why Critical Illness Insurance Should be Part of Your Financial Planning

Protect Your Family’s Wealth

Imagine getting a cancer diagnosis. As the doctor explains your options and gives you a prognosis, your head swirls at the thoughts of your next steps. Sometimes during all the information, your thoughts will turn to the costs of treatment. What if you have a stroke or heart attack suddenly? You will not have the opportunity to consider the financial impact while doctors and nurses are working hard to save you. In either case, you are looking at additional medical bills that your health insurance may not cover. That means your out-of-pocket expenses will skyrocket.

Protect your financial assets when you purchase critical illness insurance coverage. This policy can help meet your additional monetary needs so that you can focus on recovering and healing. Executive Planning Group (EPG) has options to ensure you have the protection you need when the unexpected happens.

Some Critical Illness Stats to Consider

Many feel bulletproof in their younger years. As you age, you realize that having good health is vital to living a long healthy life. However, even with exercise and nutritious food, you may face an emergency or other life-threatening illness. A devastating diagnosis can leave you and your family in financial ruin. Consider these figures:

  1. Lung Cancer: The American Cancer Society estimates about 235,760 new lung cancer cases to occur in the United States in 2021.
  2. Costs of Cancer: In 2015, Americans spent about $183 billion on cancer-related health care. Projections indicated costs could reach $246 billion by 2030.
  3. Stroke: According to the Centers for Disease Control and Prevention (CDC), strokes cost Americans nearly $46 billion between 2014 and 2015. The figure only grows each year.

What Does Critical Illness Insurance Cover  

When you have a severe illness or emergency, your medical insurance can be tapped out quickly. Many people try to save money on premiums by choosing high-deductible health plans. The reduced out-of-pocket expenses stop when you have to pay for those additional costs not covered by your medical insurance. Here are a few instances where critical illness insurance can help:

  1. Heart attack
  2. Stroke
  3. Kidney failure
  4. Cancer
  5. Multiple sclerosis
  6. Total and/or permanent blindness or deafness
  7. Parkinson’s Disease
  8. Chronic lung or liver disease
  9. Encephalitis
  10. Terminal illness

Let Healing and Recovery be Your Main Concern – Invest in Critical Illness Insurance Today

Don’t leave your financial future hanging in balance. Choose the peace of mind that comes with a critical illness insurance policy. Take advantage of potential tax benefits and the flexibility to use the money as you see fit. Reach out to us for all your financial planning, life insurance, and other financial products. Request a quote online.

Call us at 601-982-3000 to discuss your critical illness insurance needs.

Disclaimer: Securities offered through Valmark Securities, Inc. Member FINRASIPC. Investment advisory services offered through Valmark Advisers, Inc., an SEC-registered investment advisor. Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

This entry was posted in blog and tagged . Bookmark the permalink.