Six Million Americans Have Critical Illness Insurance Coverage Reports Association
A new report from the American Association for Critical Illness Insurance finds that six million Americans presently have critical illness coverage purchased through their employer or on an individual basis.
Los Angeles, CA, January 31, 2020
Some six million Americans currently own a form of insurance coverage that pays a cash benefit upon the diagnosis of a critical illness reports the American Association for Critical Illness Insurance.”The number of American adults purchasing critical illness insurance through the workplace or on an individual basis is growing,” shares Jesse Slome, director of the organization. The 2020 data is part of the Association’s overall commitment to creating heightened awareness for this important coverage.”Critical illness insurance is extremely valuable form of coverage today because millions of Americans face devastating health care costs forcing many into bankruptcy,” Slome acknowledges. ”Many of those wiped out because of a critical illness have health insurance but it’s not enough to cover all the costs or the expenses that arise while they take time for treatment or recovery.””It’s good to see more people buying this coverage and to see more insurance companies entering the marketplace,” Slome adds. ”We expect to see more insurers launching new products in the coming years and that will only result in heightened focus which inevitably will result in more policies purchased.”The Association will shortly relaunch their website where data regarding critical illness insurance sales, costs and claims will be posted. ”We are strictly going to focus on critical illness insurance in the United States though this is a very large market outside of the U.S.,” Slome admits. Critical illness coverages are available and widely sold in many countries including China, Japan, Canada and the United Kingdom.Slome serves as director of the American Association for Critical Illness Insurance that is headquartered in Westlake Village, California. To learn more, visit the organization’s website at www.criticalillnessinsuranceinfo.org. In addition, he serves as director of the American Association for Medicare Supplement Insurance and the American Association for Long-Term Care Insurance which all are designed to foster heightened awareness and support insurance professionals who market these products to consumers.