According to the Australian Institute of Health and Welfare, the risk for Australian males being diagnosed with cancer before the age of 85 was 1 in 2, and 1 in 3 for Australian females. In 2007-2008, 1 in 6, or 3.4 million Australians had cardiovascular disease, and in 2009 it was estimated 375,800 Australians had had a stroke at some time in their lives.
It is very easy for us to take our health for granted, but the statistics cannot be ignored. Critical illness insurance provides a lump sum benefit in the event that you are diagnosed with a critical condition, as defined by the insurance provider. There are numerous conditions covered by critical illness insurance such as (but not limited to) heart attack, stroke and cancer.
The lump sum payment provides you with a security blanket to pay for medical expenses during your time in recovery, in addition to easing the financial pressures of bills and lifestyle costs.
To find out more about Critical Illness insurance and your options, contact us today.