If you live in Montana, it’s likely that your friends and family have experienced a tragic event recently. According to the most recent CDC data, Montana is one of the riskiest places to call home. In fact, statistics show that Montanans are almost 40% more likely to contract cancer than residents of any other state. And unfortunately, medical expenses are one of the leading causes of bankruptcy in this state. If you live in or want to move to Montana, you should take steps now to protect yourself and your family from financial ruin if a critical illness strikes. Aflac critical illness insurance can help you manage the stress and expenses associated with a serious diagnosis. This type of policy provides cash benefits when diagnosed with a critical illness like cancer, heart disease, or stroke. Read on to find out how you can get coverage today!
What is Aflac Critical Illness Insurance?
Aflac critical illness insurance is a type of supplemental insurance that pays you when you’re diagnosed with a qualifying critical illness. This type of coverage is designed to help you manage the high costs associated with a serious diagnosis. Depending on your specific coverage, you might receive a lump sum cash payment or a series of smaller payments over time. You can use the money to cover expenses like medical bills, co-pays, prescription medication, and supplies. Important note: critical illness insurance is different than health insurance. While HMOs and PPOs help you manage health-related costs, critical illness insurance can help you manage the financial burden associated with a critical illness diagnosis.
How Does Aflac CI Coverage Work?
Aflac CI works a bit differently depending on the type of policy you purchase. Some policies pay a lump sum cash payment when you’re diagnosed with a qualifying illness. Other policies pay you a series of smaller monthly payments over a set period of time. The length of your payments will vary depending on the policy type and the specific illness you’re diagnosed with. Aflac critical illness insurance policies usually require you to be diagnosed with one of the following illnesses: cancer, stroke, heart attack, heart failure, pulmonary embolism, Paralysis, Quadriplegia, Kidney disease, or Liver disease. Pre-existing conditions are not covered by Aflac CI. If you have a chronic condition at the time of application, you will be denied coverage. This includes conditions like diabetes, high blood pressure, and asthma.
How Much Does Aflac Critical Illness Insurance Cost?
The cost of Aflac CI coverage varies depending on your age, tobacco use, and the specific policy you choose. Generally, younger policyholders pay lower CI prices than older policyholders. This is because younger people have fewer health issues and therefore have a lower risk of making a claim. Tobacco use is another major CI factor. Most tobacco users will see a higher CI price because tobacco use increases the likelihood of serious illness. Tobacco users are also at risk for more frequent illness, meaning they’re more likely to make a claim. Tobacco users usually have to quit before being approved for coverage.
Is Aflac CI Worth It?
In addition to the high costs associated with Aflac critical illness coverage, you’ll also have to contend with high deductibles. Depending on your specific policy, you might have to pay several thousand dollars out-of-pocket before your benefits kick in. If you’re healthy and have low annual expenses, you might be better off with a low-cost health insurance plan. Keep in mind, though, that health coverage won’t help you manage the financial burden of a serious diagnosis. If you want a way to protect your family from financial ruin in the event of a serious illness, CI is a good option. Just make sure you’re comfortable with the high costs associated with this coverage.
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