Some 788,000 Americans will have a heart attack this year. The vast majority will survive.*
Surviving a heart attack today is extremely likely. Because the risk is real, planning for the financial consequences of surviving a heart attack is essential but few Americans have ever investigated critical illness insurance. That’s something that needs to change.
Jesse Slome, director of the American Association of Critical Illness Insurance
Heart Attacks and the Importance of Pre-Planning
This year, one American will have a heart attack every 40 seconds. That amounts to around 788,000 heart attacks in 2020. Most will survive.
“People need to know how to reduce the risk of heart attack. Also they must prepare for the financial consequences of surviving a heart attack,” explains Jesse Slome. Slome is the director of the American Association for Critical Illness Insurance.
Surviving a heart attack today is extremely likely according to data posted on the Association’s website. “Because more than 90% of people survive myocardial infarction, planning is vital,” Slome shares.
Some of the other pertinent data shared by the Association reports ages when heart attacks are likely to occur. “We report the numbers per 1,000 people,” Slome adds. For men the number is 75 for ages 45 to 54. It is 125 for ages 55 to 64 and 125 for ages 65 to 74. For women, the number is 35 for ages 45 to 54. It is 60 for ages 55 to 64 and 70 for ages 65 to 74.
Heart Attack Risk Is Real. What’s Your Plan When You Survive?
“Because the risk of having a heart attack is real, planning for it is necessary. First if all today almost no one is doing that,” Slome acknowledges. “People are told to buy life insurance but that only provides a benefit if you die. If you survive, your health insurance or Medicare might just not be enough. As a result you face a financial risk. That’s where a small amount of critical illness insurance can be so valuable.”
The Association recently introduced an online Critical Illness Cost Calculator where individuals can obtain an instant estimate of what $10,000 of coverage will cost. “We show the yearly cost of cancer insurance. Simply multiply that number by about three or four. That will give you a sense of what a comprehensive critical illness insurance policy will cost.”
Best Ages To Think About Planning
The best ages to learn about and consider critical illness insurance protection are between 40 and 50. “While you can certainly start at younger ages, I believe these are the ages when one is starting to face these risks. Likewise it’s the ages when you are still healthy enough to qualify for coverage,” Slome suggests.
To learn more about critical illness insurance and costs for coverage, visit the American Association for Critical Illness Insurance where a critical illness insurance cost calculator will help you quickly get insight into the affordability of coverage.
* American Association for Critical Illness Insurance, Heart Attack Facts 2020
