The Facts Show Why You Should Consider "Living Benefits"
Women have a 1 in 3 risk of developing cancer in their lifetime.
Men have a 1 in 2 risk of developing cancer in their lifetime.
Every 30 seconds a new cancer is diagnosed in the U.S *
Every 40 seconds someone suffers a stroke. **
Every 26 seconds someone suffers a heart attack. ***
45% of heart attack victims are under the age of 45. ****
3 out 4 people (75%) over the age of 40 will experience a critical illness at some point in their future. *****
Chronic Illness affects many people and can create additional expenses for a family. Some of these expenses may include:
Nursing Home Cost for a Private Room
For nursing home care, the national monthly average is now $6,266, which translates into $75,190 annually.
Assisted Living Facility
For assisted living facilities the national monthly average is now $3,185, which translates into $38,220 annually.
Home Health Aide (Certified):
For Home Heath Aide, the national monthly average is now $3,623, which translates into $43,472 annually.
With a Living Benefits rider, you can spend the money you receive from your claim as you see fit.
* There are NO LIMITATIONS on how the money is to be used!
Additional Facts To Consider:
62% of bankruptcies are due to a critical illness. Of those bankruptcies, 75% of them had health insurance.
48% of businesses that fail, fail because of a critical illness.
48% of mortgage foreclosures are the result of financial hardship due to critical Illness (only 3% due to death).
Spending on Cancer care soared to more than $90 Billion from $27 Billion in the years1990 to 2008,
One in four cancer patients or their families said they used up all or most of their savings to pay for treatment.
One in eight people with advanced cancer turned down recommended care because of cost.
1 “Cancer Facts & the War on Cancer”. LIMRA. 2007.
2 American Heart Association “Heart Disease and Stroke Statistics.”, http://www.amhrt.org 2010.
3 American Heart Association. “Hearth Disease and Stroke Statistics.” LIMRA. 2007.
4 American Heart Association. “Heart Disease and Stoke Statistics.” 2007.
5 Center for Disease Control, 2009.
6 Cost of Care Maps Genworth 2010 Cost of Care Survey- 2010.
7 Get Sick, Get Out: The Medical Causes of Home Foreclosures” Health Matrix, 2009.
8 The American Journal of Medicine, 2009
9 USA Today, 3/18/2010
10 “America’s ‘Love-Hate’ Relationship with Life Insurance” LIMRA International. 2006.
11 LIMRA – Trends in Life Insurance Ownership, 2005.