Critical illness insurance: Preparing for the unthinkable

Human nature tends to keep people away from the hospital, even when they are stricken with serious symptoms. Consider a study by York University, which found that 87 percent of patients who experienced heart failure perceived that their symptoms had some degree of seriousness, but a remarkable 80 percent of those patients simply waited for the symptoms to go away! Unfortunately, these cases can lead to prolonged hospital stays, with bills to match – especially when a critical illness such as a heart attack, stroke or cancer is the cause.

As a benefits advisor, how do you express the importance of critical illness insurance to clients who might consider voluntary insurance an afterthought to major medical, home and vehicle insurance? The solution: Show clients how critical illness insurance is a win-win for employers and employees alike.