Accident & Critical Illness
Offering these two popular plans together is a simple way to provide your employees with a more robust benefits package, and extra peace of mind, too.
Even with health insurance in place, an accident or a critical illness may saddle an individual with out-of-pocket expenses such as deductibles, copayments, and out-of-network expenses. If someone has an accidental injury or experiences a critical illness, their paycheck may stop or be reduced. But they still are responsible for rent or mortgage, car payment and daily living expenses.
According to the American Cancer Society and the American Heart Association, in 2010 in America:
But the good news is more people are surviving these illnesses. The five-year relative survival rate for all cancers diagnosed between 1999 and 2005 is 68%, up from 50% in 1975-1977. And, between 1998 and 2008, mortality rates for cardiovascular disease and stroke declined by 30.6% and 34.8%, respectively.
The Unintended Expenses of Accidents
People can't anticipate when accidents will happen and therefore are often financially unprepared to handle the associated expenses. Did you know:
- 1.5 million people were diagnosed with cancer
- Every 40 seconds someone had a stroke
- Every 34 seconds someone had a heart attack
- The lifetime chance of cancer:
- Men – 44%
- Women – 38%
Our Accident and Critical Illness Protection plans are indemnity products that provide financial protection for expenses related to injuries due to a covered accident or diagnoses of covered critical illnesses.
- There are 29.5 million visits to the emergency department each year2
- Accidents are the 5th leading cause of death in the U.S.3
- 42% of Americans live paycheck to paycheck and can't manage the financial strain an accident may cause4