Protection for the stay-at-home spouse?

Presented by Donna Ries

 

Few carriers allow disability income insurance protection for the homemaker due to lack of income.  Another alternative to consider is a critical illness plan.

In the case of a major event such as cancer, heart attack or stroke, a lump sum payment may help the family cope with such a situation.  To qualify for critical illness, there is typically limited income restrictions, limited occupational analysis and an easy solution to a huge potential financial burden on the family.

The hidden cost of major health crisis is something we don’t give much thought to.  Transportation, housing and time off of work all become big issues if care is being received away from where a person lives.  Health insurance policies don’t pay for the non-medical cost of care.

“Cancer, heart attacks and strokes happen at all ages and most people are not prepared for either the emotional or financial cost,” explains Jesse Slome, Executive Director of the Industry Trade Organization.  “Nearly two-thirds of U.S. bankruptcies are the result of medical expenses and 78 percent of those filing for bankruptcy had health insurance when they were first diagnosed.”

A lump sum payment may be the answer to help the affected spouse to concentrate on recovery.  Your Financial Brokerage marketer is here to help you place more of this business.  Give us a call today at 800-397-9999 to discuss the plans available.

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