Critical Illness Needn t Hurt Your Bank Account Too
Below is a MRR and PLR article in category Finance -> subcategory Insurance.
Critical Illness Doesn’t Have to Drain Your Finances
Summary
In the blink of an eye, the expenses from a critical illness can push another American into bankruptcy. A promising solution is Critical Illness Insurance, designed to ease the financial burden during such challenging times.
Article
In just the time it takes to read this sentence, mounting medical bills from a critical illness might have forced yet another American to declare bankruptcy. Whether from personal illness or that of a loved one, the outcome is often the same: serious illness is responsible for half of all bankruptcies, according to a recent Harvard study. Alarmingly, 75% of those affected had health insurance.
A new solution for managing expenses related to critical illness is aptly named Critical Illness Insurance. This type of insurance provides a one-time lump-sum payment when a subscriber is diagnosed with specific serious conditions.
Currently, Stonebridge Life Insurance Company is among the few providers of this coverage. Experts note that as more Americans survive ailments that were once fatal, the demand for this insurance is growing. Stonebridge offers policyholders up to $50,000 upon diagnosis of covered conditions like cancer, stroke, paralysis, or heart attack. This financial support aims to cover basic expenses, such as mortgage payments, car insurance, groceries, child care, and even ballet lessons.
"Many people underestimate the financial impact of surviving a critical illness, especially when they're unable to work during recovery," says Marlene Jupiter, a personal finance author and expert. "With advances in medical care and early detection, more people are living through serious illnesses, which means they need to prepare for the financial challenges that follow."
Stonebridge Life offers Critical Illness Insurance directly to consumers, with monthly premiums starting as low as $20. Options for lump-sum payments of $10,000, $20,000, $30,000, and $50,000 are available. Additionally, the policy includes a return of premium feature. Customers who enroll before age 50 and select this benefit option can receive all paid premiums back if no claim is made by age 65.
Lew Whalen, vice president of Stonebridge, explains, "The demand for critical illness insurance is rising, as it effectively bridges the gap between health and disability plans, ensuring survivors have the financial support they need throughout their recovery."
You can find the original non-AI version of this article here: Critical Illness Needn t Hurt Your Bank Account Too.
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