When Critical Illness Insurance Is the Answer

Updated: Oct 6

October is Critical Illness Insurance Awareness Month! Critical illness insurance pays out a lump sum benefit after a critical illness diagnosis of cancer, heart attack, or stroke (some carriers may cover additional conditions). While this type of coverage isn’t as comprehensive as our beloved disability income insurance, getting clients covered with CI can be a smart and affordable move depending on a few factors.


When Critical Illness Is the Answer

  • A CI policy can supplement a disability insurance policy in order to cover the client during a (typical) 90-day elimination period.

  • Similarly, CI can be used to cover a high health insurance deductible.

  • A client that has been either denied coverage or offered disability insurance with many modifications or exclusions could be a great candidate for critical illness instead.

  • Most CI policies allow for simplified underwriting (no exams!) for a benefit of up to $75,000.

  • Unlike disability insurance, a critical illness application does not require financial documentation.

Other Facts About CI

  • The average age of critical illness insurance buyers is 43*

  • The average benefit amount individuals choose is $32,000*

  • Mutual of Omaha and Assurity are our top CI carriers right now

How Much CI Do You Need?

  • We typically suggest getting a policy with a benefit that’s about 25% of your annual income.

Want to learn more about CI? Check out Assurity’s Seller’s Guide and/or Mutual of Omaha’s CI Portfolio below.

Assurity Critical Illness Selling Guide
Download • 1.59MB
Mutual of Omaha Critical Advantage Portf
.
Download • 124KB

*According to the American Association for Critical Illness Insurance

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Bay Area Disability
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