Critical illness insurance receiving growing attention across the country

Critical Illness Insurance trend

Consumers are discovering that their standard health benefits are not always providing enough. The latest data from the American Association of Critical Illness has shown that among the 1.5 million people in the United States who will declare bankruptcy at 2013, 60 percent of them will have done so out of a lack of ability to cover their medical bills – a situation which could have been prevented in many cases through supplementary critical illness insurance. This circumstance has increased by 50 percent over the span of the last six…

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2012 Critical Illness Buyer and Claimant Study results reveal latest data

Critical Illness Insurance trend

Recent research shows that the most common cause of claims are related to cancer. According to a study performed by the American Association for Critical Illness Insurance, in conjunction with General Re Life Corporation, more than half of all first-time claims filed through critical insurance policies by Americans are related to cancer. Furthermore, strokes and heart attacks made up 29 percent of the new claims last year. There are currently approximately one million people in the United States who have an active critical illness insurance policy, which functions as a…

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Results of 2012 National Critical Illness Insurance Buyer published

The American Association for Critical Illness Insurance, in association with General Re Life Corporation, has released a report based on the results of the 2012 National Critical Illness Insurance Buyer Study. The study showed that there is a growing number of people purchasing critical illness insurance in the demographic of those between the ages of 25 and 45. They are buying the coverage in order to ensure that they will have immediate cash payments available to them should they ever receive a diagnosis of a serious health condition. Approximately 49…

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American Association for Critical Illness Insurance seeks information regarding claims benefits for consumers

Insurance Agents

The American Association for Critical Illness Insurance has begun seeking feedback from insurance agents whose clients have received claims benefits in recent months. The trade association is looking to gather information on how these payments have been disbursed and whether consumers are satisfied with the service of their insurers. Critical illness insurance is a new type of coverage designed to provide care for those that suffer from afflictions such as cancer, heart disease and strokes.  As a new form of insurance, information regarding satisfactory practices is scarce, leading the association…

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