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Critical Illness Insurance. Critical Illness Insurance The coverage that pays you for living. - PowerPoint PPT Presentation

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Critical Illness Insurance

Critical Illness InsuranceCritical Illness InsuranceThe coverage that pays you for living

AFN39346_0206Critical 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, 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. 1Critical Illness InsuranceDue to medical advancementsPeople live longerAverage life expectancy at birth11900 - 47.3 years2002 - 77.3 years1 National Center for Health Statistics - 2005; Table 27 - Life Expectancy at Birth2Critical Illness InsuranceDue to medical advancementsMore critical illnesses are diagnosed in the United StatesMore than 1.37 million new cancer cases are expected to be diagnosed in 20051Every 26 seconds someone suffers a coronary event2Every 45 seconds someone suffers a stroke21 2005 Cancer Facts & Figures, American Cancer Society2 Heart Disease and Stroke Statistics - 2005 Update; American Heart Association3Critical Illness InsuranceDue to medical advancementsPeople survive more critical illnessesThe 5-year relative survival rate for all cancers combined is 64%1In 2003, the 1-year survival rate for heart transplants was 86.9%21 2005 Cancer Facts & Figures, American Cancer Society2 Heart Disease and Stroke Statistics - 2005 Update; American Heart Association4Critical Illness InsuranceDue to medical advancementsSurvival has a priceCosts like:Loss of incomeOut-of-network treatmentExperimental treatmentTransportation and lodging for family members and loved ones during treatmentChild care, housekeeping and other domestic assistance5Critical Illness InsuranceCritical Illness insurance meets a need not met by traditional productsthe price of survival.

6Critical Illness InsuranceWhat is Critical Illness Insurance?

7Critical Illness InsuranceWhat is Critical Illness Insurance?Developed by Dr. Marius Barnard in 1983

Critical Illness provides you with a tax-free1 lump-sum cash benefit when youre diagnosed2 with one of the covered conditions providing youFinancial independence when you need it most1 According to current tax laws. Consult your tax advisor.2 As defined by the policy/certificate. Exclusions, limitations and reductions apply.8Critical Illness InsuranceHow do I use the cash benefit payment?Critical Illness insurance is all about personal choiceyou may use the cash benefit payment onAnything you wish9Critical Illness InsuranceYou may be thinkingI already have health and disability insurance, so why do I need this?

10Critical Illness InsuranceTraditional insurance wont cover all the expenses related to a critical illness Medical InsurancePays for doctor visits and prescription drugs Disability InsurancePays a portion of income during a period of covered disability Life InsurancePays a beneficiary upon death11Critical Illness InsuranceWho do you know whos had:cancera heart attacka strokeWho planned to be on that list?12Critical Illness InsuranceNow 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?13Critical Illness InsuranceWhat events may impact or change your life?EventAre you Insured?Stolen vehicle_______________Home fire_______________Home flood_______________Death_______________Diagnosis of heart attack or cancer_______________14Critical Illness InsuranceCritical Illness Insurance from Mutual of Omaha Insurance Company

15Critical Illness InsuranceMutual of Omahas Critical Illness InsurancePays 100% of your maximum benefit amount when youre diagnosed1 with:Life-Threatening CancerHeart AttackStrokeAlzheimers DiseaseDeafnessMultiple SclerosisMajor Organ Transplant - when registered with United Network of Organ Sharing (UNOS) ParalysisRenal (kidney) failureBlindness1 As defined by the policy/certificate16Critical Illness InsuranceMutual of Omahas Critical Illness InsurancePays 25% of your maximum benefit amount when youre diagnosed1 with:First Carcinoma in SituFirst Coronary AngioplastyFirst Coronary Bypass Surgery1 As defined by the policy/certificate17Critical Illness InsuranceIf 25% of policy benefit amount is paid, your policy still continues at a 75% benefit amount - with a 25% premium reduction

18Critical Illness InsuranceReturn of Premium Feature1Youll 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; orNothing, if the benefits paid are equal to or greater than the premiums paid1 As defined by the policy/certificate. Not available in Florida.19Critical Illness InsuranceReturn of Premium Feature1In 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; orThe maximum benefit amount in force at the time of death1 As defined by the policy20Critical Illness InsuranceReduction of BenefitsThe 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 accordingly21Critical Illness InsuranceExclusions 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 Insureds operation of a motor vehicle while the Insureds 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).22Critical Illness InsuranceQuestions?

23Critical Illness InsuranceUnderwritten By:Mutual of Omaha Insurance CompanyMutual of Omaha PlazaOmaha, NE 68175mutualofomaha.comCritical Illness policy/certificate forms CI, CI1, CCI, CCI1 (in ID, CI-20145,CI1-20146; in OK, CI-19655, CI1-19656; 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. 24

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