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| Critical Illness - Some facts about the financial impact of critical illness. |
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Is insurance against the financial impact of a critical illness a "need" or just a "want"? The following are several facts that may shed some light on this question: Critical Illness Fast Facts: · One out of every three people will be diagnosed with cancer (approximately 1,250,000 Americans annually). The five-year survival rate for all cancers is 62%. (American Cancer Society, 2004 Facts and Figures) · One out of every four people will suffer a heart attack (approximately 1,200,000 Americans annually). Survival rate of a heart attack is 67%. (Heart Disease and Stroke Statistics, 2005 Update, American Heart Association) · 750,000 Americans will suffer a stroke annually. Survival rate of stroke is 87%. (Heart Disease and Stroke Statistics, 2005 Update, American Heart Association) · 52% of employees surveyed reported living “paycheck to paycheck.” (The MetLife Study of Employee Benefit Trends, 2003) · About every 26 seconds, someone suffers a coronary event. (Heart Disease and Stroke Statistics - 2004 Update, American Heart Association, based on total year 2000 U.S. population of 281 million people) · About every 45 seconds, someone suffers a stroke. (Heart Disease and Stroke Statistics - 2004 Update, American Heart Association, based on total year 2000 U.S. population of 281 million people) · Nearly one-third of all families caring for a seriously ill family member during a two-year period lost most or all of their savings. (LIMRA Report, 2002, Lump Sum Literature Review) [ed. Insurance agents and financial advisors should keep this, and their possible legal exposure, in mind if they neglect to address CI coverage.] · 39% of all cancer survivors in the US are under the age of 65. (National Center for Disease Control and Prevention (CDC), Morbidity and Mortality Weekly Report, July 25, 2004) · 88% of heart attack patients under the age of 65 are able to return to their usual work. (American Heart Association, 2004 Heart and Stroke Statistics Update) |
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