If a Critical Illness Strikes


Ask Yourself If a Life-Threatening Illness Strikes You:

  • How long can you survive financially without a regular paycheck?
  • How will your regular bills be paid?
  • Will you have sufficient funds available to pay for:

    Any insurance co-payments and deductibles;
    Alterations to your home and/or automobile to meet any special needs;
    Out-of-town transportation and lodging for medical treatment;
    Additional household and child care expenses;
    Treatments not covered by traditional health insurance; and/or
    Shorter-term home health care during your recuperation?

What Sources of Funds May Be Available to Help You Financially Survive a Critical Illness?


Source Evaluation

Health Care
Insurance

 While health care insurance will cover a portion of the direct costs associated with a critical illness, these plans typically require payment of deductibles, coinsurance and/or co-pays, which can range from $2,000 to $10,000 or more in out-ofpocket costs to you before the plan provides 100% coverage. If you elect out-of-network care from a specialist or nationallyrecognized hospital, you may face significant additional expense, plus the cost of travel and lodging. In addition, indirect expenses associated with recuperating from a critical illness, such as modifications to a home or vehicle, child care expenses and convalescent care, may not be covered. It is important for you to know what your health care plan will and will not cover before a critical illness strikes.

Disability
Income
Insurance

 Disability income insurance benefits typically replace a portion of your income if you are sick or hurt and unable to work. If you are covered by disability income insurance, you need to know the answers to questions such as these:
  • How long must you be disabled before benefits begin?
  • How much is the benefit you will receive?
  • For how long will the benefit be payable?

Social
Security
Benefits

 Assuming that you qualify, Social Security disability benefits do not begin until the sixth full month of disability and are generally not adequate to replace your earning power. In fact, the average monthly Social Security disability benefit received in 2006 was $977.70. (Source: Annual Statistical Report on the Social Security Disability Program, 2006; released August 2007)

Savings and
Investments

 A single critical illness could consume the assets you’ve worked a lifetime to accumulate.

Ask yourself…if you suffered a critical illness and were out of commission
for three to six months, would you be able to survive financially?


If the answer is no, there is a potential remedy...critical illness insurance.

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VSA 2A3.20, 2A3.21 ed. 01-08
VSA, LP The information, general principles and conclusions presented in this report are subject to local, state and federal laws and regulations, court cases and any revisions of same. While every care has been taken in the preparation of this report, neither VSA, L.P. nor The National Underwriter Company is engaged in providing legal, accounting, financial or other professional services. This report should not be used as a substitute for the professional advice of an attorney, accountant, or other qualified professional.