Accidents happen to all kinds of people every day. In 2009, 38.9 million people—about 1 out of 8—sought medical attention for an injury.¹
What would the financial impact of an injury mean to your security?
Are you prepared for medical debts in addition to everyday household expenditures and lost wages?
Out-of-pocket expenses associated with an accident are unexpected and often burdensome; perhaps the accident itself could not have been prevented, but its impact on your finances and your well-being certainly can be reduced.
Accident policies pays cash benefits directly to you, unless you choose otherwise. This means that you will have added financial resources to help with expenses incurred due to an injury, to help with ongoing living expenses, or to help with any purpose you choose. These policies are designed to provide you with cash benefits throughout the different stages of care, regardless of the severity of the injury.
Also, these policies enable you to take charge and to help provide for an unpredictable future by paying cash benefits for accidental injuries. Your own peace of mind and the assurance that your family will have help financially are powerful reasons to consider an accident policy. Typical features of an accident policy are:
- No deductibles and no co-payments.
- No lifetime limit—policy won’t terminate based on number or dollar amount of claims paid.
- No network restrictions—you choose your own medical treatment provider.
- No coordination of benefits—we pay regardless of any other insurance.
Cancer policies pay a cash benefit upon initial diagnosis of a covered cancer, with a variety of other benefits payable throughout cancer treatment. You can use these cash benefits to help pay out-of-pocket medical expenses, the rent or mortgage, groceries, or utility bills—the choice is yours. Possibly the most dreaded word in the medical industry, the statistics on cancer are staggering and scary. According to the American Cancer Society:
- In the United States, men have a little less than a 1-in-2 lifetime risk of developing cancer; for women the risk is a little more than 1-in-3.
- About 1,437,180 new cancer cases are expected to be diagnosed in 2008.
- Cancer is the second most common cause of death in the United States, exceeded only by heart disease.
As advances in cancer treatment continue, more and more people will survive:
- Approximately 10.8 million Americans with a history of cancer were alive in January 2004.
The five-year relative survival rate for all cancers diagnosed between 1996 and 2003 is 66 percent.
The National Institutes of Health estimated the overall costs for cancer in the year 2007 at $219.2 billion.
Although major medical insurance can help with the costs of cancer treatment, you still may have to cover deductibles and co-payments on your own. Additionally, cancer treatment can cause out-of-pocket expenses that aren’t covered by major medical health insurance:
- Long-distance calls
- Child care
- Household help
Meanwhile, living expenses such as car payments, mortgages or rent, and utility bills continue, whether or not you are able to work. If a family member has to stop working to take care of you, the loss of income may be doubled.²
Critical Illness Policy
Chances are you may know someone who’s been diagnosed with a critical illness. You can’t help but notice the strain it’s placed on the person’s life—both physically and emotionally. What’s not so obvious is the impact a critical illness may have on someone’s personal finances.
That’s because while a major medical plan may pay for a good portion of the costs associated with a critical illness, there are a lot of expenses that just aren’t covered. And, during recovery, having to worry about out-of-pocket expenses is the last thing anyone needs.
That’s the benefit of a Critical Illness plan. It can help with the treatment costs of covered critical illnesses, such as cancer, a heart attack or a stroke. More importantly, the plan helps you focus on recuperation instead of the distraction and stress over out-of-pocket costs. With the Critical Illness plan, you receive cash benefits directly (unless otherwise assigned)—giving you the flexibility to help pay bills related to treatment or to help with everyday living expenses.³
Critical Illness plan benefits include:
- Heart Attack (Myocardial Infarction)
- Major Organ Transplant
- End-Stage Renal Failure
- Coronary Artery Bypass Surgery
- Carcinoma In Situ
- Health Screening Benefit
For a quote on Accident, Cancer, and Illness policies, click the button below:
 Injury Facts, 2011 Edition, National Safety Council.
 Cancer Facts & Figures 2008, American Cancer Society.
 All information on this page is sourced from publications A35275LCA, A78375RCA, AGC05819