Critical Illness Insurance

Report
Critical Illness Insurance
Critical Illness Insurance
The coverage that pays you for living
Critical Illness insurance is underwritten by Mutual of Omaha Insurance Company, Mutual of Omaha Plaza, Omaha, NE 68175.
Critical Illness policy/certificate forms CI, CI1, CCI, CCI1 (in ID, CI-20145,CI1-20146; in OK, CI-19655, CI1-19656; in OR, CI19913, CI1-19914; in PA,CI-19936, CI1-19937; in TX, CI-19753, CI1-19754) or state equivalent. This is a limited benefit health
insurance policy/certificate. Exclusions, limitations and reductions apply. Rates and availability may vary by state.
AFN39346_0206
Critical Illness Insurance
Due to medical advancements
• People live longer
• Average life expectancy at birth1
• 1900 - 47.3 years
• 2002 - 77.3 years
1
National Center for Health Statistics - 2005; Table 27 - Life Expectancy at Birth
Critical Illness Insurance
Due to medical advancements
• More critical illnesses are diagnosed in the
United States
• More than 1.37 million new cancer cases are
expected to be diagnosed in 20051
• Every 26 seconds someone suffers a coronary
event2
• Every 45 seconds someone suffers a stroke2
1
2
2005 Cancer Facts & Figures, American Cancer Society
Heart Disease and Stroke Statistics - 2005 Update; American Heart Association
Critical Illness Insurance
Due to medical advancements
• People survive more critical illnesses
• The 5-year relative survival rate for all cancers
combined is 64%1
• In 2003, the 1-year survival rate for heart
transplants was 86.9%2
1
2
2005 Cancer Facts & Figures, American Cancer Society
Heart Disease and Stroke Statistics - 2005 Update; American Heart Association
Critical Illness Insurance
Due to medical advancements
• Survival has a price
• Costs like:
• Loss of income
• Out-of-network treatment
• Experimental treatment
• Transportation and lodging for family members
and loved ones during treatment
• Child care, housekeeping and other domestic
assistance
Critical Illness Insurance
Critical Illness insurance
meets a need not met by
traditional products…the
price of survival.
Critical Illness Insurance
What is Critical Illness
Insurance?
Critical Illness Insurance
What is Critical Illness Insurance?
• Developed by Dr. Marius Barnard in 1983
• Critical Illness provides you with a tax-free1
lump-sum cash benefit when you’re diagnosed2
with one of the covered conditions providing
you
Financial independence when you need it most
1
2
According to current tax laws. Consult your tax advisor.
As defined by the policy/certificate. Exclusions, limitations and reductions apply.
Critical Illness Insurance
How do I use the cash benefit payment?
• Critical Illness insurance is all about personal
choice…you may use the cash benefit payment
on
Anything you wish
Critical Illness Insurance
You may be thinking
“I already have health and
disability insurance, so why
do I need this?”
Critical Illness Insurance
Traditional insurance won’t cover all the
expenses related to a critical illness
• Medical Insurance
• Pays for doctor visits and prescription drugs
• Disability Insurance
• Pays a portion of income during a period of
covered disability
• Life Insurance
• Pays a beneficiary upon death
Critical Illness Insurance
Who do you know who’s had:
• …cancer
• …a heart attack
• …a stroke
Who planned to be on that list?
Critical Illness Insurance
Now think about what a difference
a cash payment of $10,000,
$50,000, $100,000 or more would
have made to each person when
their condition was diagnosed.
What difference would it make in your life?
Critical Illness Insurance
What events may impact or change your life?
Event
Are you Insured?
Stolen vehicle
_______________
Home fire
_______________
Home flood
_______________
Death
_______________
Diagnosis of heart attack or cancer
_______________
Critical Illness Insurance
Critical Illness Insurance
from Mutual of Omaha
Insurance Company
Critical Illness Insurance
Mutual of Omaha’s Critical Illness Insurance
• Pays 100% of your maximum benefit amount
when you’re diagnosed1 with:
• Life-Threatening Cancer
• Stroke
• Major Organ Transplant when registered with
United Network of Organ
Sharing (UNOS) Paralysis
• Alzheimer’s Disease
• Renal (kidney) failure
• Deafness
• Blindness
• Heart Attack
• Multiple Sclerosis
1
As defined by the policy/certificate
Critical Illness Insurance
Mutual of Omaha’s Critical Illness Insurance
• Pays 25% of your maximum benefit amount
when you’re diagnosed1 with:
• First Carcinoma in Situ
• First Coronary Angioplasty
• First Coronary Bypass Surgery
1
As defined by the policy/certificate
Critical Illness Insurance
If 25% of policy benefit
amount is paid, your policy
still continues at a 75%
benefit amount - with a 25%
premium reduction
Critical Illness Insurance
Return of Premium Feature1
• You’ll receive the lump-sum benefit upon
diagnosis, or if you die while this coverage is in
force, your beneficiary or your estate will
receive either:
• All paid premiums less benefits received; or
• Nothing, if the benefits paid are equal to or
greater than the premiums paid
1
As defined by the policy/certificate. Not available in Florida.
Critical Illness Insurance
Return of Premium Feature1
• In Georgia, if you die while this coverage is in
force, your beneficiary or your estate will
receive an amount equal to or less of:
• Return of premium; or
• The maximum benefit amount in force at the time
of death
1
As defined by the policy
Critical Illness Insurance
Reduction of Benefits
• The maximum benefit amount will be reduced
by 50% at age 65 or 5 years after the issue date
if the insured is age 60 or older at
policy/certificate issue
• If the policy/certificate or certain riders pay a
portion of the maximum benefit amount, your
maximum benefit amount and premium will be
reduced accordingly
Critical Illness Insurance
Exclusions and Limitations:
This policy/certificate does not cover any loss of the Insured caused by the following:
(a) intentionally self-inflicted injury, while sane or insane (in CO and MO, while sane only);
(b) the use or intake of any drug, intoxicant or narcotic, other than as prescribed and administered by or in accordance with the instruction of a Legally
Qualified Physician (not applicable in ID, OK, SC, SD and VT);
(c) the Insured’s operation of a motor vehicle while the Insured’s blood alcohol concentration is in excess of the legal limit in the state in which the
incident occurs (not applicable in ID, OK, SC, SD and VT);
(d) committing or attempting to commit a felony;
(e) loss resulting from, or service in the armed forces or auxiliary units (in SC, loss resulting from, or service in the armed forces or auxiliary units –
upon notice of entry into a service, the pro rata premium will be refunded;
(f) while engaging in an illegal occupation; or
(g) participating in a riot or insurrection.
(h) In ID, alcoholism or drug addiction.
(i) In OK, drug addiction.
(j) In OK, alcoholism.
(k) In SC, being intoxicated or under the influence of any narcotic unless taken on the advice of a Legally Qualified Physician.
This policy/certificate will cover only the following skin cancers:
(a) invasive malignant melanoma in the dermis or deeper, and
(b) skin malignancies that have become Life Threatening Cancers.
No benefits are payable for any medical conditions or surgical treatments other than the Critical Illness Insured Conditions defined in the policy/certificate.
If cancer is detected within the first 30 days following the policy/certificate issue date, the policy/certificate will be terminated and premiums paid will be
returned (provisions may vary by state).
Critical Illness Insurance
Questions?
Critical Illness Insurance
Underwritten By:
Mutual of Omaha Insurance Company
Mutual of Omaha Plaza
Omaha, NE 68175
mutualofomaha.com
Critical Illness policy/certificate forms CI, CI1, CCI, CCI1 (in ID, CI-20145,CI1-20146; in OK, CI-19655, CI119656; in OR, CI-19913, CI1-19914; in PA,CI-19936, CI1-19937; in TX, CI-19753, CI1-19754) or state equivalent.
This is a limited benefit health insurance policy/certificate. Exclusions, limitations and reductions apply. Rates and
availability may vary by state.

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