How might a Critical HealthEvents℠ policy help out the average person? Let’s look at some examples of how policyholders could obtain and use their benefits. Although these are fictional stories, they all represent real ways that Critical HealthEvents could provide benefits, and real ways in which those benefits could be used.
Alphonse is a married father of two who works in the construction industry, and who has a $20,000 Critical HealthEvents policy with cancer coverage. At age 55, just before Thanksgiving, Alphonse is diagnosed with stage 1 colon cancer. The 50% benefit ($10,000) that Alphonse receives fully covers the out-of-pocket deductible on his medical insurance for surgery that removes the tumor.
Unfortunately, next year, Alphonse learns that his cancer has recurred and spread to his lymph nodes, and he now needs chemotherapy. Since he now has a fully replenished benefit in a new calendar year, Alphonse is able to collect a 100% benefit ($20,000) in addition to the $10,000 he received before. The $20,000 not only helps pay for his chemo, but also helps support his family as he is unable to work while undergoing treatment. (Thankfully, the chemotherapy is successful, and Alphonse is eventually able to return to work.)
Barry, age 68, has had his Critical HealthEvents policy for nearly 20 years, and even took it with him when he retired from his job as a truck driver. Years of smoking and eating junk food on the road have caught up to him, however, and he suffers a mild transient ischemic attack (TIA). After treatment in the emergency room, Barry collects a 10% benefit from his Critical HealthEvents policy.
Barry’s doctor warns him that unless he makes some lifestyle changes, he is at high risk for a serious and crippling stroke. So Barry uses his 10% benefit to shape up: he joins a gym, a smoking-cessation program and a healthy-eating club. With his early diagnosis and benefit, Barry has managed to dramatically reduce his risk of a critical illness. If he does have a stroke or another covered critical illness in this year, Barry will be eligible to use whatever remains of his annual maximum benefit. If the event happens another year, he will be eligible for 100% of his annual maximum benefit.
Cecilia is 58 years old and an empty-nester with her husband Philip, working towards their anticipated retirement in California, though money can be tight. One day, Cecilia feels a pain in her chest and collapses. She is rushed to the hospital, where a doctor provides a clinical diagnosis of a heart attack and Cecilia receives emergency treatment. Remembering that Cecilia has a Critical HealthEvents policy, Philip files a claim for her, and Cecilia is able to quickly collect a 50% benefit to help cover their immediate expenses.
Later, a cardiac enzyme test provides a pathological diagnosis, confirming that Cecilia did indeed suffer a heart attack. Based on this confirmation, Cecilia and Philip contact Trustmark and receive the remainder of their 100% benefit for a confirmed heart attack. Having now received their 100% annual maximum benefit, Cecilia and Philip are able to avoid many financial issues caused by Cecilia’s heart attack, and they remain on track for a happy retirement.
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