October is Critical Illness Awareness Month in the United States.
“As a nation we are rightly focused on the Covid-19 pandemic but we can’t overlook the impact of critical illnesses and Awareness Month is a perfect opportunity to increase understanding of the issue,”
Jesse Slome, director of the American Association of Critical Illness Insurance
Awareness Month October 2020 Campaign Planned; September 28, 2020. The American Association for Critical Illness Insurance has announced a special awareness campaign to begin this October.
“October is Critical Illness Awareness Month in the U.S.,” shares JR Slome, director of the critical illness insurance organization. The Association campaign is designed to create heightened awareness of the risks and consequences associated with illnesses such as cancer and heart disease.
Awareness Month October ideal time to focus on issue
This year over 1.8 million Americans will be diagnosed with cancer. Some 790,000 individuals will have a heart attack and almost as many will have a stroke. “As a nation we are rightly focused on the Covid-19 pandemic but we can’t overlook the impact of critical illnesses and Awareness Month is a perfect opportunity to increase understanding of the issue,” Slome adds. “Like Covid, thankfully most people will survive a cancer diagnosis but survival often comes with a huge financial cost.”
According to the American Association for Critical Illness Insurance (AACII) nearly 750,000 Americans filed for individual bankruptcy in 2019. “A Harvard study reported that 62.1 percent of individual bankruptcies are the direct result of medical matters,” Slome notes. “Most of these people had health insurance in place when the health condition first started.”
Campaign to target ages 40 to 59
The campaign will target men and women between the ages of 40 and 59. “That’s when the financial consequences of a cancer diagnosis or a critical illness are greatest,” Slome explains. “Few people have heard of or considered insurance that pays a lump sum cash benefit upon diagnosis of cancer or if you have a heart attack. We need to change that.”
The market for cancer and critical illness insurance is growing slowly Slome shares. “More than 5 million Americans currently have cancer-only or critical illness insurance protection and we believe the market is poised for some significant growth.”
Free Critical Illness Insurance Cost Calculator
Slome advocates for policies that offer individuals the option of either cancer-only or comprehensive critical illness insurance. “Cancer-only coverage will be more affordable and generally is the greater risk people face prior to reaching age 65 or 70,” he notes. The Association provides a Critical Illness Insurance Cost Calculator on their website that provides a rough estimate of cost for a $10,000 cancer-only insurance policy. To learn more about critical illness insurance rates visit the homepage.
Founded in 2009, the American Association for Critical Illness Insurance (AACII) advocates for the importance of critical illness insurance protection and supports insurance professionals who market CI products. To learn more about Critical illness Awareness Month visit the Association’s website.
Learn more about National Critical Illness Awareness Month from National Calendar:
Valuable resources for those 65 or older: Find local Medicare insurance agents who can compare your Medicare insurance options. Access lowest and highest 2020 Medicare insurance prices for U.S. cities. For best information and long-term care insurance quotes visit the American Association for Long-Term Care insurance website.
