Critical Care Insurance and how it benefits you

People are living much longer lives even after suffering a heart attack, cancer, heart bypass surgery, suffering a stroke, or many other maladies that used to guarantee fatality. No more, thanks to early earlier detection, better prevention and medical advances in serious healthcare treatments.

Unfortunately for many of us, surviving such a catastrophic illness can bring with it serious financial hardships – especially if that illness leads to a prolonged, expensive stay in a nursing home or assisted living facility (or both) while recuperating.

This is where Critical Care Insurance can help. Relatively new to the health care insurance scene, Critical Care Insurance provides monthly cash benefits for at home care, assisted living and nursing home care. The benefits provided progress with the expenses and duration of each level of care.

Here’s how it works. Let’s use Pat as an example:

Before Pat became ill, she purchased a Critical Care Policy with a monthly base benefit of $2,000 with a maximum benefit period of 18 months. Some years later, Pat suffered a stroke. Like many other stroke patients, she required lengthy follow up care.

Here’s how her Critical Care Coverage helped pay Pat’s bills:

  • 3 months in nursing home = $12,000
  • 8 months in assisted living = $24,000
  • 3 months in home care = $6,000

Total Critical Care paid to Pat over the course of 14 months of recovery in various facilities = $42,000.

What’s even better? Twelve months after Pat fully recovered from her stroke, all of her Critical Care Benefits were fully restored. So if Pat suffers from another catastrophic health event, she will be covered again.

If not for her Critical Care policy, that $42 thousand would have had to come from Pat’s retirement savings, the equity in her home –or even from her children. That’s something none of us wants to consider.

As an extended care advisor, I can help you figure out a plan of health insurance that fits you in every way possible. Together, we can choose a plan, a benefit period and a monthly base benefit amount that is right for you. Whether you are 18 or 84, I want to be sure your future health doesn’t cause you a moment’s stress or anxiety.

~ Elise

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