Critical illness insurance packages provide the investor with a lump sum cash payment once a diagnosis has been made. The cash benefit is obtained tax deferred and the individual could choose to spend or settle the amount in any way in which he or she deems fit.
Advancements in technology has made it possible for people to gain access to best medical practices available on the planet. The average life expectancy in the year 1900, was centered around 46.3 years. By the year 2010 this number has risen to 75.7 years, which is indicative enough of the quality of treatment that is on offer to the masses. Unfortunately the cost of treatment continues to remain high making it a very expensive ordeal for those without a comprehensive insurance policy.
As a result more and more diagnosis of people suffering from some form of critical illnesses is being made. By the end of 2010, more than 1.5 million new cancer cases have been reported. With improvements in medicine, survival rate for cancer patients has increased to 50% between the years 1999 to 2005.
People with heart trouble have also shown remarkable improvement in their condition over the past few years. By the end of October 2009, it has been reported that close to 88% of patients who underwent heart transplant surgery have been able to survive past their first year of the operation while 72% have been able to survive post 5 years.
If a person were to be diagnosed with a critical form of illness, the person may still face several financial hurdles, as his or her particular insurance policy might not provide the necessary cover to avail treatment.
Going in for a comprehensive critical illness plan can be a good option for a lot of individuals when you consider the amount of costs involved once the diagnosis has been made. Since the individual receives a lump cash sum as payment, it becomes possible to cover all expenses related to the treatment of the particular illness.
Mutual of Omaha’s critical illness insurance package has been carefully drafted by the company to cater to various life threatening ailments that require extensive care and medical supervision. With a critical illness plan the investor has taken care of some of his most immediate needs. These include:-
Access to the kind of treatment that is required to treat the illness.
You do not have to sell of your assets to afford for treatment.
You can recuperate with the company of family and friends without having to worry about your financial state.
Mutual of Omaha critical insurance pays 100% of the maximum benefit that arises from your coverage for the following illnesses or medical conditions. Some of these include:
Apart from these Mutual of Omaha critical insurance can also be used to provide maximum coverage of up till 25% from your policy for health condition such as:
There are several forms of insurance covers that are available in the market. However all these products might not satisfactorily provide adequate coverage for all essentials that form a part of your treatment. Quite often we see many cases, where the patient has experienced difficulty in making payments for services that are not part of their existing insurance policy
Hence in many ways it makes perfect sense to go in for a comprehensive critical illness plan that can effectively satisfy all your needs and enable you to receive the best possible treatment. With an Mutual of Omaha critical illness insurance plan one could draw cash benefits once the form of illness has been diagnosed.
These proceeds could later be used by the patient to address expenses such as:
as-673-120-12202012
Advancements in technology has made it possible for people to gain access to best medical practices available on the planet. The average life expectancy in the year 1900, was centered around 46.3 years. By the year 2010 this number has risen to 75.7 years, which is indicative enough of the quality of treatment that is on offer to the masses. Unfortunately the cost of treatment continues to remain high making it a very expensive ordeal for those without a comprehensive insurance policy.
As a result more and more diagnosis of people suffering from some form of critical illnesses is being made. By the end of 2010, more than 1.5 million new cancer cases have been reported. With improvements in medicine, survival rate for cancer patients has increased to 50% between the years 1999 to 2005.
People with heart trouble have also shown remarkable improvement in their condition over the past few years. By the end of October 2009, it has been reported that close to 88% of patients who underwent heart transplant surgery have been able to survive past their first year of the operation while 72% have been able to survive post 5 years.
If a person were to be diagnosed with a critical form of illness, the person may still face several financial hurdles, as his or her particular insurance policy might not provide the necessary cover to avail treatment.
Going in for a comprehensive critical illness plan can be a good option for a lot of individuals when you consider the amount of costs involved once the diagnosis has been made. Since the individual receives a lump cash sum as payment, it becomes possible to cover all expenses related to the treatment of the particular illness.
Mutual of Omaha’s critical illness insurance package has been carefully drafted by the company to cater to various life threatening ailments that require extensive care and medical supervision. With a critical illness plan the investor has taken care of some of his most immediate needs. These include:-
Access to the kind of treatment that is required to treat the illness.
You do not have to sell of your assets to afford for treatment.
You can recuperate with the company of family and friends without having to worry about your financial state.
Mutual of Omaha critical insurance pays 100% of the maximum benefit that arises from your coverage for the following illnesses or medical conditions. Some of these include:
- Stroke
- Transplant of a major organ in the body
- Alzheimer’s disease
- Cancer related illnesses that can be very life threatening
- Heart attack (myocardial infarction)
- Kidney failure
- Deafness
- Blindness
- Paralysis
Apart from these Mutual of Omaha critical insurance can also be used to provide maximum coverage of up till 25% from your policy for health condition such as:
- First coronary angioplasty
- First carcinoma in Situ
- First coronary artery bypass surgery
There are several forms of insurance covers that are available in the market. However all these products might not satisfactorily provide adequate coverage for all essentials that form a part of your treatment. Quite often we see many cases, where the patient has experienced difficulty in making payments for services that are not part of their existing insurance policy
Hence in many ways it makes perfect sense to go in for a comprehensive critical illness plan that can effectively satisfy all your needs and enable you to receive the best possible treatment. With an Mutual of Omaha critical illness insurance plan one could draw cash benefits once the form of illness has been diagnosed.
These proceeds could later be used by the patient to address expenses such as:
- Medical bill payments
- Holiday outing with the family
- Mortgage expenses
- Hiring a professional help to you while you recuperate
as-673-120-12202012
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1 comments:
Ultimate post. You have explained everything in detail and very well about critical illness insurance. I like your blog.Critical illness insurance Ontario.