A new initiative promotes easy access to quality cancer-only and critical illness insurance protection.
“Three coverage levels will be offered, $10,000, $15,000 and $25,000 with the product available for purchase by adults 59 and younger,”Jesse Slome, director of the American Association of Critical Illness Insurance
Compare critical illness insurance rates, July 2, 2020. A new initiative promotes easy access to quality cancer-only and comprehensive critical illness insurance coverage. The effort was announced today by the American Association for Critical Illness Insurance.
Recognizing the financial consequences resulting from cancer and other critical illnesses, Overland Park-based Unified Life Insurance Company has launched a new critical illness insurance plan with US Alliance Life and Security Company. The new plan will be offered exclusively through the American Association for Critical Illness Insurance (AACII). The new policy will give consumers the option of either a cancer-only or critical illness insurance coverage.
The U.S. market for cancer and critical illness insurance is growing. According to Gen Re’s Critical Illness Market Survey results from recent years, more than 5 million Americans currently have cancer-only or critical illness insurance protection with an estimated 1.6 million new individual policies or certificates added in 2018.
“We believe this is a most important way to benefit millions of individuals and families with affordable options that are easy to understand and easy to apply for,” said Kevin Dill, President of Unified Life Insurance Company. “Critical illness can strike at any time and this new coverage provides a lump-sum cash benefits from $10,000 to $50,000 to help cover expenses associated with a qualifying serious illness.”
Policy is exclusively available to consumers via Association’s website
The policy will be available exclusively to consumers who connect via the American Association for Critical Illness Insurance website. “This is an outstanding partnership with enormous potential,” declared Jesse Slome, director of the Association. “Our efforts focus on increasing awareness of the real threat posed to so many individuals and their families. In conjunction with the launch of the new product, we will initiate an intensive educational campaign targeting those between the ages of 35 and 55 when this coverage is not just affordable but also so vitally needed.”
The new Unified Life product will become the sole critical illness insurance product advertised on the Association’s website. “Unified’s commitment to affordable options that can be easily applied for directly online offered a superior combination of product value and simplicity that is so essential today for direct-to-consumer success,” Slome adds.
Three coverage levels will be offered, $10,000, $15,000 and $25,000 with the product available for purchase by adults 59 and younger, Slome explains. The comprehensive critical illness insurance policy will provide lump-sum cash benefits upon a qualifying diagnosis for multiple conditions.
About Unified Life Insurance Company
Unified Life Insurance Company is built on Midwest values. It was founded in 1986 by William and Jean Buchanan and has an AM Best rating of B++. The critical illness insurance policy from Unified Life is now available in 35 states, with additional states to be announced later this year.
About American Association for Critical Illness Insurance
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. Located in Westlake Village, California, Jesse Slome is director and also serves as director of the American Association for Long-Term Care Insurance and the American Association for Medicare Supplement Insurance.