Should I get critical illness insurance?

Reasons to learn about critical illness insurance

  • Women face a real risk of cancer prior to age 65.
  • Men also face risks like cancer, heart attack and stroke.
  • Your health insurance has some huge financial gaps.
  • You are more likely to get a critical illness than to die before age 70.
  • Most individual bankruptcies follow a health issue.
  • The majority who file for bankruptcy had health insurance when the issue first was diagnosed.
  • Gig-economy workers don’t get paid while getting medical treatments or recovering.
  • $10,000 of cancer insurance can cost less than $100 a year.
  • Likewise, $10,000 of critical illness insurance can be affordable.
  • A growing number of insurers will provide instant online pricing and applications.

Women and critical illness planning

average age of first diagnosis
average age of first diagnosis.

Women and men both face real risks like cancer, heart attack and stroke.  Women tend to get cancer at younger ages.  That’s because of breast cancer.

But while we show average age, that can be misleading.  If the average age of women being diagnosed for cancer is 61, some are being diagnosed at 51.  Others at 71.

We post many relevant critical illness statistics here.  But they are only a guide.  This is important coverage to get in your mid-to-late 30s.  Definitely in your 40s and 50s.  The risk of a critical illness striking between now and when you retire (or turn age 70) is high.

You can only get cancer insurance or critical illness insurance when you are in good health and can qualify.

should I get critical illness coverShould I get this insurance?  At least see what coverage costs!

Use the Cost Calculator on this webpage to see an instant estimate of what you might pay for $10,000 of cancer only coverage.  You might be surprised at how affordable this important protection can be,

The Association recommends women consider an amount of coverage that is equal to your rent or mortgage payments for a period of between 6 and 18 months.  Obviously, you can buy more coverage if you can afford it.  But think of the peace of mind you’ll have knowing these expenses are covered for a year while you recover from your illness.

Men and critical illness planning

heart attack andf critical illness ageCancer hits both men and women.  So do heart attacks and strokes.  But here’s some generalized information.  Men get cancer at older ages than women.  They get heart attacks at younger ages.

Maybe you can buy employer critical illness insurance.  That’s great.  But before you do, read our tips

 

What about men; should I get this insurance?

should I get critical illness coverObviously men get cancer (prostate cancer in particular).  They also get heart attacks and strokes.

So, yes, men should consider both cancer only insurance as well as critical illness insurance.  Past generations of men were told to buy life insurance.  But the chances of dying prior to age 70 are far lower than the risk of a critical illness.  Planning today needs to be very different than it was in the past.

Should I get Medicare Supplement insurance?

should i get Medicare insuranceoWhen you become eligible for Medicare, you will have options.  There are Medicare Advantage plans.  Also Medicare Supplement (or Medigap) plans.  Finally there are Medicare Prescription Drug Plans.

Find local Medicare insurance advisors near meUse the directory provided free of charge by the American Association for Medicare Supplement Insurance.

Instant Insurance Cost Calculator

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