Critical Illness Insurance from Bankers Life

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1 Critical Illness Insurance from Bankers Life Underwritten by Bankers Life and Casualty Company 18726C Critical Illness Insurance Solicitation. THESE POLICIES PROVIDE LIMITED BENEFITS.

2 Risk of critical illness Nearly 1-in-2 men and more than 1-in-3 women are expected to develop cancer at some point in their lifetime. 1 About every 34 seconds, somone will suffer a heart attack. On average, every 40 seconds, someone in the U.S. has a stroke. 2 1-in-9 Americans age 65 and older has Alzheimer s disease. 3 1 American Cancer Society, Cancer Facts and Figures 2015, 2015, p American Heart Association, Heart Disease and Stroke Statistics, Alzheimer s Association, Alzheimer s Disease Facts and Figures 2015, 2015, p. 16. CI-2

3 Costs associated with a serious illness are high $24,000 to $36,000 per year Average cost of cancer drugs 1 $15,000 Average cost of care up to 90 days after stroke 2 $10,000 per year Average out-of-pocket costs for health care and long-term care services for people age 65 and older with Alzheimer s disease 3 1 American Society of Clinical Oncology, The Stroke Center at University Hospital, Newark, New Jersey, Stroke Statistics, Alzheimer s Association, Alzheimer s Disease Facts and Figures 2015, 2015, p. 46. CI-3

4 Your payment goes directly to you Consider these potential expenses when undergoing treatment: Insurance shortfalls Deductibles Copayments Benefit limitations Special expenses Transportation Lodging Family care Special diets Living expenses House payments Utilities Groceries Loss of income If you or your spouse are unable to work If you re caring for another family member CI-4

5 The cost may be greater than you might think Loss of income or living expenses If you were unable to work: Do you have an emergency fund in place? Is it sufficient? Could you still cover all your expenses? Cancer patients are 2.65 times more likely to declare bankruptcy than people without cancer. 1 If you were diagnosed with a critical illness: Would you be able to afford your mortgage or rent? Could you pay for food, utilities and other essential items? 40% 60% More than 60% of the cost of cancer is nonmedical and paid out-of-pocket. 2 Who would care for your children or pets? How much would it cost? 1 Fred Hutchinson Cancer Research Center, American Cancer Society, Cancer Facts & Figures 2014, 2014, p CI-5

6 The cost may be greater than you might think Travel expenses How much would it cost for you to fly to a specialty hospital or clinic? Would you be able to afford the cost of lodging for a loved one to accompany you? Who would you like to be there with you? In-home recovery Would you have the financial capability of paying for in-home recovery, if needed? CI-6

7 Out-of-pocket expenses How would you pay for expenses related to a critical illness that may not be covered by your primary health insurance? Spend your life savings Take out loan(s) Borrow money from your family and friends Sell your personal belongings VS Purchase critical illness insurance CI-7

8 Two important items to consider 1 2 Need You can effectively plan for nonmedical expenses, loss of income or savings and insurance shortfalls if a critical illness strikes. Affordability Critical illness insurance is affordable for many people, depending upon income, other insurance and personal circumstances. Many families can fit the premium payments into their budgets without a change in lifestyle. CI-8

9 You have spent a lifetime accumulating assets There are four factors that can affect your assets: Retirement Income Growth Security Emergency Final Expenses/ Survivor s Income Burial Taxes Gifts Medical Expenses Hospital Doctor Medicare Critical Illness Retirement Care At home Assisted living Nursing home CI-9

10 Medicare Supplement Insurance Policies are underwritten by Colonial Penn Life Insurance Company, an affiliate of Bankers Life and Casualty Company. Colonial Penn, Bankers and their licensed agents are not connected with or endorsed by the U.S. Government or the Federal Medicare Program. The benefits described in the policy do not cover all nonmedical expenses. However, the benefit payment you receive can be used to pay any of your medical or nonmedical costs not paid by any other insurance. Insurers and their representatives are not permitted by law to offer tax or legal advice. The general information here was written to support the sales, marketing or service of insurance policies offered by Bankers Life and Casualty Company. Based upon individuals particular circumstances and objectives, they should seek specific advice from their own qualified and duly licensed independent tax or legal advisors. No one may rely upon or use the information here for the purpose of avoiding any tax or tax penalty that may be imposed by the Internal Revenue Code or other applicable law. These products, their features and riders may not be available in all states. Bankers Life and Casualty Company and their agents are not connected with or endorsed by the U.S. Government or the Federal Medicare Program. Bankers Life and Casualty Company is not licensed in and does not solicit business in New York. Bankers Life is the marketing brand of Bankers Life and Casualty Company, Medicare Supplement insurance policies sold by Colonial Penn Life Insurance Company and select policies sold in New York by Bankers Conseco Life Insurance Company (BCLIC). BCLIC is authorized to sell insurance in New York. Underwritten by Bankers Life and Casualty Company Chicago, IL BankersLife.com 2016 Bankers Life (06/16) CI-10