Is Critical Illness Worth It Session Conducted By Association Director
The Californer/10082976

LOS ANGELES - Californer -- The first of a series of sessions exploring the question is critical illness insurance worth it was conducted.  Jesse Slome, director of the American Association for Critical Illness Insurance hosted the online program.

"There are roughly 150 million working age adults who are one diagnosis away from financial ruin," Slome shared.  "The top cause for individual bankruptcies is medical or health related events and the majority of these individuals had health insurance when the condition first started."

The Association recently re-launched their informational website with the goal of creating heightened awareness among adults between ages 40 and 60.   "To understand if insurance is worthwhile, there are two important elements," Slome suggested.  "The first is risk of needing coverage.  The second is evaluating the importance of this versus other risks you face."

More on The Californer
"Individuals between age 40 and 60 face a significantly higher risk of a critical illness than dying before turning 65 or 70," Slome noted.  "I'm not against people buying life insurance but the greater risk would be what I protect first.  Buy what you are more likely to need."

Cancer is the greatest risk men and women face prior to general retirement age.  "The five year survival rate for cancer is 67 percent overall," Slome reports.  "It's 98% for prostate cancer and  90 percent for female breast cancer. "

What makes critical illness insurance worth it?  Slome shared several pointers.  "First, most individuals will benefit from a relatively small amount of benefit - from $10,000 to $25,000.  For a 45-year-old male a $10,000 benefit can cost around $13-a-month," he explains.  Read more at https://criticalillnessinsuranceinfo.org/is-critical-illness-insurance-worth-it/.

More on The Californer
Slome expects significant increases in critical illness insurance purchase.  Around 1.5 million Americans buy this coverage annually according to AACII.  "There's greater focus on insurance products for seniors because so many insurance agents are themselves seniors," Slome says.  "As younger professionals seek to grow their insurance clientele critical illness insurance will be a mainstay of their offerings."

The American Association for Critical Illness Insurance advocates for the importance of awareness and protection.  AACII also supports insurance agents who offer cancer insurance and ci insurance.  A free critical illness insurance cost calculator can be accessed on the Association's website at https://www.criticalillnessinsuranceinfo.org.

Contact
jesse slome
***@aaltci.org


Source: American Association for Critical Illness Insuranc
stats
Filed Under: Health

Show All News | Report Violation

0 Comments
1000 characters max.

Latest on The Californer