BRIGHTON, Mich., Feb. 1, 2018 /PRNewswire/ -- LifeSecure Insurance Company has launched Critical Illness insurance, the latest addition to its suite of supplemental health solutions that help consumers offset out-of-pocket medical costs and other related expenses. The product is now available to individuals, families, and employers and their employees in 16 states with additional states soon to follow.
"When a heart attack, cancer or other major illness strikes, all too often the illness is only part of the battle due to the cost of treatment," said LifeSecure President and CEO Kevin Stutler. "This important coverage will help families protect their finances and provide the support they need to focus on recovery."
In 2016, the direct medical costs related to cardiovascular disease in the United States totaled $316 billion – more than any other disease, including Alzheimer's and diabetes1. In 2015, the direct medical costs for cancer were $80.2 billion2. And while the cost of treating such diseases continues to rise, about one-third of Americans struggle to pay their medical bills, including those with health insurance, while 27 percent delay or skip getting the health care they need due to cost3.
LifeSecure's Critical Illness insurance provides a lump-sum payment between $5,000 and $50,000 for individual coverage, and $10,000, $15,000, or $20,000 for worksite coverage. Policyholders can use their benefits for any reason that may help, including to offset deductibles, co-insurance and other medical costs like out-of-network expenses, or for daily bills and living expenses, lost wages, or travel and transportation costs.
Other key plan features include:
- Coverage for nine major illnesses, including heart attack, stroke, invasive cancer and skin cancer
- An unlimited lifetime benefit maximum – benefits can be used more than once to cover the re-occurrence of a disease and the subsequent diagnosis of a different covered condition
- A Health Screening Benefit as a standard feature for individual coverage; optional for worksite coverage
- Coverage for the whole family - including a spouse or partner and dependent children
"We believe insurance should be easy to understand, effortless to buy, and simple to use," Stutler said. "This product continues our commitment to offering straightforward, yet comprehensive benefits that families can rely on when they're needed the most."
To learn more, visit YourLifeSecure.com.
About LifeSecure Insurance Company
Based in Brighton, Mich., LifeSecure Insurance Company is dedicated to its mission of delivering an exceptional insurance experience. The company offers supplemental health and long term care insurance products. LifeSecure is licensed in 46 states and the District of Columbia. Additional information is available at YourLifeSecure.com.
1 American Heart Association, Cardiovascular Disease: A Costly Burden for America, 2017.
2 American Cancer Society, Economic Impact of Cancer, cancer.org.
3 Kaiser Family Foundation, Americans' Challenges with Health Care Costs, March 2017.
Contact: Chris Spittal
SOURCE LifeSecure Insurance Company