Critical Illness
Critical Illness (CI) insurance provides financial protection when a major illness is diagnosed. The benefit is paid in a lump sum to be used by the client as they see fit. As health insurers continue to limit benefits in an effort to stay profitable CI can provide money to cover treatments, facilities, or prescriptions not covered by your clients health insurance or that are covered on a limited basis.
CI can also provide your client with the ability to seek treatment from a doctor not covered by their health insurance. CI can even provide money to replace lost wages of the insured due to recovery time and/or lost wages of a spouse who stays at home to help with the recovery. In short CI provides your client with options, choice, control, independence, and reduced stress!
| Assurity | Mutual of Omaha | ||
|---|---|---|---|
| AM Best Rating | A- | A+ | |
| S & P Rating | n/a | A+ | |
| Comdex | n/a | 91 | |
| Alert Score* | 56 | 56 | |
| Overview | Fully underwritten version and Simplified issue | Optional Disability rider will pay 5% evry 6 months for 5yrs then a lump sum if still disabled |
|
| Issue Ages | 18-64 | 20-64 | |
| Non Approved States | CT,FL,MA,MD, NH,NJ,NY,VA,WA |
CT-MA,MD, NH,NJ |
|
| Benefit Period | Lifetime | Lifetime | |
| Issue Amounts | 50k-500k | 10k-250k | |
| Number of Conditions | 18@100%,3@25% | 9@100%, 3@25% | |
| Max Number of Claims | 3 times | 1 time | |
| Return Of Premium | Included | Included | |
| Age Benefit Reduces to Half | 65 | 65 | |
| Riders | ADD,Spouse,Child,Wavier of Premium | ADD,Disability | |
| *Alert Score Highlighted 72 |
Some of the best prospects for CI are:
- Self Employed
- Anyone who has maxed out their disability income coverage and wants more
- Spouses of high wage earners
- High risk occupations
Call us today for more information on how to offer this solution to your clients!
