Few products can help bridge a gap quite like critical illness insurance.
This relatively affordable solution has the potential power to help cover medical costs not covered by traditional health plans, facilitate small business continuity from one generation/partner to another in the event of a covered illness, and generate incremental streams of revenue for financial professionals.
Keep reading for insights on the vital need for, and key role of, today's critical illness protection products.
|The need
Critical illness insurance provides a lump-sum payment for the occurrence of one or more covered medical conditions, subject to policy terms and specifications, including limitations and exclusions.
The contracts differ from carrier to carrier, but this solution generally is designed to empower policy holders to choose the care and treatment they prefer if they undergo a major organ transplant or are diagnosed with another qualifying event such as a heart attack, invasive cancer, stroke, kidney failure, coma, paralysis, severe burn, and/or the loss of sight, speech or hearing. The stats related to these conditions are compelling.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
