What would happen if you suffered a critical illness and couldn’t work? Who would generate the income for your family? If you were self-employed, would your business survive? If you were diagnosed with cancer, or having a heart attack or stroke, would you be able to afford the hidden costs, the loss of income, increased deductibles, mortgage payments, etc? Did you know that almost 50% of home foreclosures are due to the homeowner suffering a critical illness and that almost 50% of bankruptcies are also due to somebody suffering a critical illness?
Critical Illness insurance pays a lump sum living benefit upon diagnosis of a critical illness such as cancer, heart attack or stroke. The benefits are received tax-free and can be used in any manner the clients wishes. If you want something unique to offer your clients, this is the product for you.
Mutual of Omaha has one of the strongest and most competitive critical illness policies on the market. Recent underwriting changes allow them to offer their product on a simplified issue and fully underwritten basis. Plus, a return of premium feature is built into the policy. Mutual is a must have product!
Assurity Life is another competitively priced product. They also offer both simplified issue and fully underwritten polices. In addition to what have become industry standard qualifying conditions, Assurity also pays benefits for Major Burns and Occupational HIV. They will also pay you $100 if a simplified issued policy isn’t issued within 4 days of having all the material necessary to complete underwriting