“Critical illness insurance protection remains one of the most valuable and least publicized forms of protection for individuals between 40 and 60,”

Jesse Slome, director of the American Association of Critical Illness Insurance

CRITICAL ILLNESS AWARENESS MONTH: critical illness insurance policies. Five million Americans own a critical illness insurance policy.

“Critical illness insurance protection remains one of the most valuable and least publicized forms of protection for individuals between 40 and 60,” says Jesse Slome. Slome is director of the American Association for Critical Illness insurance. “Critical Illness Awareness Month begins next week and this is the first factoid that we wanted to release.”

What is critical illness insurance

Critical illness insurance pays a lump sum cash benefit upon diagnosis of a qualifying critical illness insurance. Cancer, heart attack and stroke are the three primary covered conditions. Today policies will cover a range of additional other health issues.

Many critical illness insurance policies offer an option for a cancer insurance policy. These generally are far more affordable. “For many women, a cancer-only insurance policy could be a very viable option,” Slome notes.

Here are some valuable links for consumers.
Cancer and critical illness insurance statistics and data.
Cancer insurance rates and quote.

Critical Illness Awareness Month Resources

The American Association for Critical Illness Insurance advocates for the importance of planning for health-related risks.

Jesse Slome is director of the Association and a leading insurance industry expert. He also serves as director of the American Association for Long-Term Care Insurance as well as the American Association for Medicare Supplement Insurance. Prior to forming insurance trade organizations, he held senior positions with leading insurance companies include Aetna and Transamerica.

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“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.

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“More than 300,000 people are hospitalized each year from broken hips, and 95 percent of these fractures are the result of a fall.”

Jesse Slome, director of the American Association of Critical Illness Insurance

HEALTHY HABITS NEWS: Big toe test can prevent falls; July 21, 2020. This one is fun reading. But it also offers a benefit especially valuable for seniors. Every 11 seconds, an older adult is treated in the emergency room for a fall. One in four Americans over the age of 65 falls each year.

“Falls are a serious problem especially for seniors,” says Jesse Slome. Slome serves as director for both , director of the American Association for Critical Illness insurance as well as the American Association for Long-Term Care insurance. “While our Healthy Habits News reports primarily focus on health issues prior to age 70, this one is too relevant to overlook.”

Seven million seniors injured by falls

“According to the most recent data older Americans experienced 29 million falls, resulting in 7 million injuries,” Slome shares. “More than 300,000 people are hospitalized each year from broken hips, and 95 percent of these fractures are the result of a fall.” This data comes from the Centers for Disease Control (CDC).

Big toe test

The big toe test was explained by researchers at the Centre for Biomechanics and Rehabilitation Technologies (CBRT) at Staffordshire University. The process involves pulling a small card from underneath the participant’s foot while asking them to grip with their big toe. Grip force of the big toe was previously found to be strongly linked to the strength of all muscle groups of the foot and ankle. This was linked to one’s ability to maintain balance.

“The paper grip test is a simple, clinically applicable test to detect muscle weakness in the foot,” shares Dr Aoife Healy, Associate Professor of Human Movement Biomechanics. “The current paper builds on our previous work and shows its usefulness in assessing strength and balance in this group of vulnerable patients.” The new enhanced test that replaces the pass/fail outcome with a continuous measurement of the pulling force that is needed to remove the card.

Women should start planning in their 40s

Commenting is the report appearing in Science Daily, Professor Nachi Chockalingam, Director of the Centre for Biomechanics and Rehabilitation Technologies said the following. “Falls and fear of falling are a major issue in the management of older adults. Also, falling for the first time sets in motion a cycle of increased fear of falling, reduced activity and loss of strength. This leads to a higher risk for further falls. So, it is important to identify individuals who might fall and preventing the first fall is extremely important.”

The American Association for Critical Illness Insurance advocates for the importance of planning for health-related risks. Learn more and ways to compare critical illness insurance policies on our website. Access the research report published in Gait & Posture, July 16, 2020.

Valuable resources for those 65 or older: Find local Medicare insurance agents who can compare your Medicare insurance options. See 2020 Medicare insurance prices for U.S. cities. For long-term care insurance quotes visit the American Association for Long-Term Care insurance website.

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“A woman age 45 may pay about $82-to-$90 a year for a cancer insurance policy providing a $10,000 cash benefit.”

Jesse Slome, director of the American Association of Critical Illness Insurance

HEALTHY HABITS NEWS: Breast cancer probability for U.S. women; July 14, 2020. The latest information citing the 10-year probability of a breast cancer diagnosis was shared today.

“This year some 270,000 women will be diagnosed with breast cancer,” says Jesse Slome, director of the American Association for Critical Illness insurance. “Many reports will cite the median age but that could mislead many women into thinking their risk is well into the future.”

Breast cancer probability starting at age 40 shared

According to the most recent data researched by the organization that advocates for cancer and critical illness planning, a 40-year-old woman has a 1-in-65 chance of being diagnosed with breast cancer over her next 10 years. “A woman who is 50 now has a 1 in 28 chance of being diagnosed between now and when she turns 60. The likelihood grows from there,” Slome adds.

Lifetime risk is 1 in 8

Women face a huge risk of breast cancer and the consequences extend well beyond their health, Slome contends. One in eight women will be diagnosed with breast cancer according to the American Cancer Society.

“A breast cancer diagnosis is going to be rapidly followed by treatment and that will be costly,” Slome points out. “Even with health insurance the typical woman will face having to pay deductibles and co-insurance payments. That also assumes all costs and medications prescribed will be covered by insurance.” In addition, many women will take time off from work to undergo treatments and recovery. “The rent or mortgage and your cell phone bill don’t get postponed because you were diagnosed. That’s why pre-planning is so vitally important for women, especially those who are living on their own.”

Women should start planning in their 40s

The critical illness insurance expert recommends women start planning in their 40s. “Today, many insurance companies offer a cancer-only policy and that’s going to be more affordable than a comprehensive cii policy,” Slome explains. A woman age 45 may pay about $82-to-$90 a year for a cancer insurance policy providing a $10,000 cash benefit. “Insurers have the choice of charging non-smokers the same as smokers, even though their risk is higher,” Slome admits. The Association’s Cost Calculator shows a 45-year-old woman who uses tobacco products would pay $108 for a $10,000 benefit.

If your company offers employer critical illness insurance, read suggestions and tips for comparing shared by the Association. To learn more about how much critical illness insurance do I need, read the post.

$10,000 of cancer insurance for a 45 year old woman; Use the Cost Calculator for instant price estimate.

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“If you can’t contribute the maximum annually to your HSA, consider a very-low-cost alternate planning strategy. Shift some of the huge financial risk you face to an emergency cancer-only or critical illness insurance policy.”

Jesse Slome, director of the American Association of Critical Illness Insurance

High deductible health plans put more individuals at financial risk. Enrollment in high deductible health plans (HDHPs) continues to grow. They offer savings to workers that make them attractive. From 2007 to 2017, enrollment in HDHPs couupled with a Health Savings Account grew from 4.2% to 18.9% among adults between 18 and 64. HDHP plans without a Health Savings Account grew from 10.6% to 24.5%.

“The Covid-economy is likely going to increase the number of working age adults opting for a high-deductible health plan option during open enrollment for 2021,” predicts Jesse Slome, director of the American Association for Critical Illness insurance. “Individuals with HDHPs pay lower monthly insurance premiums. But they risk paying more out of pocket for medical expenses until their deductible is met.”

HDHP potential risk is rarely covered by your HSA account balance

The annual deductible for an individual with an HSA-qualified high deductible health plan was $2,476 (2019) according to the Kaiser Family Foundation. For family coverage the annual deductible would was $4,673. “In addition to meeting the deductible, most plans require you pay costs until you reach the out-of-pocket maximum,” Slome adds.

The out-of-pocket maximum for single coverage with an HSA-Qualified HDHP is $4,492. “Most people don’t contribute to their health savings account. When a crisis hits, they won’t have the needed emergency funds to pay the deductible and out-of-pocket costs,” Slome adds.

In 2018, the average HSA balance was $2,803, according to data from the Employee Benefit Research Institute. That’s up from the average balance of $1,991 seven years earlier. “Among HSA accounts with contributions, individual contributions in 2018 averaged $2,017,” Slome reports.

High deductible health plans alternate planning strategy

High deductible health plans are a great option when money is tight, Slome contends. “If you can’t contribute the maximum annually to your HSA, consider a very-low-cost alternate planning strategy. Shift some of the huge financial risk you face to an emergency cancer-only or critical illness insurance policy.” By emergency a plan should cover deductibles, co-pays and uncovered medical expenses which will fall into the $10,000 to $20,000 range.

“Cancer is clearly the greater risk generally before age 65 and 70 and cancer insurance is going to be far less expensive,” Slome notes. A $10,000 benefit might cost a 45 year old non-smoking male about $50 a year.

If your company offers employer critical illness insurance, read suggestions and tips for comparing shared by the Association. To learn more about how much critical illness insurance do I need, read the post.

What does $10,000 of cancer insurance cost? Use the Cost Calculator for instant price estimate.

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“Both research teams say their findings support recommendations to increase fruit, vegetable and whole grain consumption. A healthy diet can prevent type 2 diabetes,”

Jesse Slome, director of the American Association of Critical Illness Insurance

Higher fruit diet, July 9, 2020. Eat more fruit, vegetables and whole grain foods. The benefit is a lower risk of developing type 2 diabetes. The findings were published in The BMJ (the British Medical Journal).

The researchers in one study calculate that a 66 grams (2.3 ounces) per day increase in total fruit and vegetable intake was associated with a 25% lower risk of developing type 2 diabetes. Some 1.5 million Americans are diagnosed with diabetes every year according to the American Diabetes Association (ADA). In 2015, ADA reported that 88 million Americans age 18 and older had prediabetes.

The number of adults living with diabetes continues to rise. The most common of diabetes is type 2. Some 90 to 95 percent of people with diabetes in the United States have type 2. Just 5 percent of people have type 1.

A second study is included in the report. Researchers in the United States examined associations between total and individual whole grain food intake and type 2 diabetes. Their findings are based on 158,259 women and 36,525 men who were free from diabetes, heart disease and cancer. Participants and were taking part in the Nurses’ Health Study, Nurses’ Health Study II, and Health Professionals Follow-Up Study.

Whole grain consumption resulted in 29% lower rate

The researchers adjusted for lifestyle and dietary risk factors for diabetes. Participants in the highest category for total whole grain consumption had a 29% lower rate of type 2 diabetes. That compared with those in the lowest category.

The researchers examined consuming one or more servings a day. Whole grain cold breakfast cereal or dark bread was associated with a lower risk of type 2 diabetes. The numbers (19% and 21% respectively) compared with consuming less than one serving a month.

“Both research teams say their findings support recommendations to increase fruit, vegetable and whole grain consumption. A healthy diet can prevent type 2 diabetes,” says Jesse Slome, director of the American Association for Critical Illness Insurance. “This is especially valuable for individuals who typically consume low levels as it could help to prevent type 2 diabetes.”

Healthy Habits News, published by the American Association for Critical Illness Insurance

This Healthy Habits News report is published by the American Association for Critical Illness Insurance (AACII). AACII advocates for the importance of planning for the financial implications of various health conditions.  The Los Angeles based organization maintains an extensive website. Consumers can access the latest information on cancer, heart attacks, strokes. Use the Association’s free cost calculator to find costs for $10,000 of cancer insurance coverage.  Jesse Slome is director. Slome also serves as director of the American Association for Long-Term Care Insurance. In addition he heads the American Association for Medicare Supplement Insurance.

• Higher fruit diet Source: Science Daily, July 9, 2020
  Photo Credit: Image by silviarita from Pixabay

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