CRITICAL ILLNESS
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CRITICAL ILLNESSBRIDGE THE GAP
WE'RE LIVINGLONGER ANDCOMBATINGSERIOUSCONDITIONS
Life-changing illness ismore common than everA "critical illness" is not something you
may pass away from. With medical
advancements, we are able to endure and
survive serious complications like heart
attacks, stroke and cancer.
Y O U S U R V I V E D T H E W O R S T ,W H A T N O W ?
Your health insurance protects you from the sky-high
prices of treatment, drugs, and hospital stays. But what
covers your out-of-pocket expenses, your spouse's
time off work to care for you, or your own time off of
work and travel to care for your sick child?
THAT'S GOOD,ISN'T IT?
MEDICAL BANKRUPTCY IS THELEADING TYPE OF BANKRUPTCY
BRIDGETHE GAPThe lump-sum payment from critical
illness insurance can pay for the
unexpected expenses not covered by
health or disability insurance.
Americans will declare bankruptcy for
medical reasons every year. This has been
increasing steadily over the past 6 years.
900,000www.lifehappens.org
WHATCOUNTS?The Big Three:
Cancer, Heart Attack, and Stroke
Kidney failure
Paralysis
Heart valve replacement
Blindness
Multiple sclerosis
Organ transplants
1.4 MILLIONAmericans arediagnosed with
cancer.
Americans willexperience their first
stroke.
785,000600,000E V E R Y Y E A R
Americans suffer anew coronary
attack.
www.lifehappens.org
IF I ALREADY HAVE DISABILITYINSURANCE SHOULD I GET
CRITICAL ILLNESSINSURANCE AS WELL?
CRITICAL ILLNESS DISABILITYPAYS A LUMP-SUM WHEN
DIAGNOSED WITH A COVERED
ILLNESS EVEN IF YOU MAKE A
COMPLETE RECOVERY.
PAYS A REGULAR MONTHLY
AMOUNT (USUALLY A PERCENTAGE
OF YOUR REGULAR EARNINGS)
WHEN YOU CAN'T WORK DUE TO
ILLNESS OR INJURY.
QUALIFICATIONCRITICAL ILLNESS:
MUST HAVE A SPECIFIC
COVERED DIAGNOSIS
DISABILITY:
DEPENDS ON YOUR ABILITY TO
WORK (OR TO PERFORM YOUR
SPECIFIC JOB FUNCTION)
INCOMEPROTECTIONCritical Illness: provides a source of
income to pay high out-of-pocket
health costs and other expenses
when you have a critical illness
diagnosis.
INCOMEPROTECTION
Disability: helps protect your
income by providing a partial
replacement of your earnings for
a period of time while you cannot
work due to illness or injury.
TAXESCRITICAL ILLNESS:
LUMP-SUM PAYOUT IS
TAX-FREE
DISABILITY:
PAYOUT MAY BE
TAXABLE DEPENDING ON
PLAN DESIGN
Critical illness payouts are not
dependent on any other source
of income, and are not affected
by your ability/return to work.
PROOF OF LOSS
WHAT'S INYOUR POLICY?Covered diagnosed illnesses
Survival Period / Waiting Period
(time you wait after diagnosis to
receive payment)
ASK QUESTIONS BEFOREBUYING A POLICY -
AN AGENT CAN BE A VALUABLERESOURCE AND GUIDE.
38500 Woodward Avenue Suite 360
Bloomfield Hills, MI 48304
248.594.5550 | austinbenefits.com
Contact us for help or questionsabout Critical Illness for you or
your business.
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