Here's why you need critical illness insurance (but maybe your parents or grandparents did not)

One thing that makes critical illness insurance is unique because it was not created by an insurance company, but by a heart surgeon world-renowned Dr. Marius Barnard. It was part of the team, led by his brother, Christian Barnard, who performed the first human heart transplant with the success.

Dr. Barnard has practiced medicine in South Africa, and saw that, with the changes taking place in medicine, when a serious illness struck, he was able to cure his patient physically but the financial stress that accompanies cancer, heart attack and stroke was killing his patients.

Dr. Barnard saw that the financial strain that accompanies cancer, heart attack and stroke was killing his patients.

His thought was that protection against serious diseases could function similarly to a life insurance policy and pay a lump sum upon diagnosis of serious illness. Critical illness insurance was introduced in South Africa in 1983, and is now sold in over 60 countries worldwide.

You're probably wondering, "Why now Medicare criticism? Why have I not heard more about it before? "The reason is that with great doctors and incredible advances in medicine and medical technology, today people survive cancer, heart attacks, strokes, etc., which killed us there is generation.

for example, a good friend of mine, Keith, has a client who is 38 years old. The customer Keith was running on a treadmill in a gym when he suffered a heart attack. Twelve people called 911. the woman on the treadmill next to him walked over, grabbed the defibrillator from the wall, and applied.

Think about it. If it customer had a heart attack 15 years ago, the number of gyms would have defibrillators? How many other people in the gym would have had cell phones to dial 911 for paramedics he immediately?

same question, different answer

the question is, what is the insurance product for cancer, heart attack or stroke? When I started in the insurance industry 35 years ago, the answer to this question was life insurance. At that time, very few people have survived a serious illness.

This reminds me of the story of Albert Einstein. His teaching assistant came into his office, panicked. The assistant said, "Professor Einstein, questions about the exam this year are the same as last year!"

Einstein replied: "No problem, because the answers are different"

Consumers still want to know what the right insurance product to protect against serious diseases such. as cancer, heart attack and stroke. the question is the same, but the response has changed. a person still need life insurance, but he or she also needs critical illness insurance

to quote Dr. Barnard :. "you need protection against serious diseases, not because you are going to die, but because you will survive."