critical illness insurance

Middle-income America not ready for critical illness costs

By Consumer Insurance Guide Staff
Middle-income America not ready for critical illness costs

A full 90 percent of middle-income Americans are not ready for the financial hardship posed by a critical illness diagnosis. They don’t have enough savings on hand and don’t have long-term care insurance or critical illness insurance to help defray the cost, according to a recent study by the Washington National Institute for Wellness Solutions. The study, Middle-Income America’s Perspectives on Critical Illness and Financial Security, which surveyed 1,001 Americans ages 30 to 66 with an annual…

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Long-Term Care insurance is more than nursing home care

By Mike Mosser
Long-Term Care insurance is more than nursing home care

Originally begun in the 1980s, Long-Term Care insurance has been going through major structural changes over the past few years for a variety of reasons. Companies have been leaving the market and rates are on the rise. Some experts say the time to buy a policy is now, before the market gets any tighter or rates get any higher. Those companies still in the market are becoming more stringent in what they provide, such as no…

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Critical illness insurance provides a cash infusion when sickness strikes

By Mike Mosser
Critical illness insurance provides a cash infusion when sickness strikes

Anyone facing a critical illness, such as cancer, a heart attack or a stroke, has to deal with more than just a physical and mental struggle—it can have a tremendous financial impact as well. Even those with health insurance can take a hit from co-pays, lost income, lifestyle changes and items not covered by their provider. A 2009 study by Harvard University found that 62 percent of all bankruptcies in the U.S. were the result…

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Financial security for singles requires a bit of planning

By Consumer Insurance Guide Staff
Financial security for singles requires a bit of planning

Single Americans who think they don’t have a care in the world still need to take care of themselves financially. Even those without kids should consider protecting the only dependent they have—themselves. In observance of Unmarried and Single Americans Week (September 16-22), the Insurance Information Institute offers advice on coverages that many singles might not think they need. In the U.S., 33 million people lived alone in 2011—53 percent of unmarried residents 18 and older…

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