· Recognize a need for Critical Illness insurance - Get to know your clients to determine their insurance needs. If your client is a single income earner in the home, they may want to consider a Critical Illness plan. If their primary health insurance plan has a high deductible, Critical Illness insurance could be beneficial. Even with health insurance, a critical illness can be financially devastating. Having a Critical Illness plan in place can help ease the financial strain of an unexpected serious illness.
· With or Without Health Insurance - Critical Illness insurance is not limited to those with a health insurance plan. Critical Illness insurance can pair with a major medical plan, temporary health insurance plan, or stand-alone.
· Position as tax advantaged benefit with flexible spending - With Critical Illness insurance, your client receives a cash benefit for a qualifying illness. The money can be used however your client sees
fit - to cover bills, childcare, travel for treatment and more. This can be a great selling point.
· Could your client afford to make mortgage payments if they were unable to work? Would large medical bills put a strain on their finances? Does your client have money set aside for a major health care crisis? Asking questions can help determine if Critical Illness insurance is a good fit.
Not for consumer use.
Golden Rule Insurance Company or UnitedHealthcare Life Insurance Company are the underwriters and administrators of these plans.
1Corporation for Enterprise Development, "Treading Water in the Deep End: Findings from the 2014 Assets & Opportunity Scorecard," January 2014.