Put critical illness coverage at the heart of your financial protection

Did you know that heart-related conditions account for almost 30 percent of

Unum’s critical illness claims???

CHATTANOOGA, Tenn. (Feb. 17, 2012) - Treatment of cardiovascular diseases accounts for about one of every 6 dollars spent on health care in the United States, according to the Centers for Disease Control. American Heart Month in February is a perfect time to prepare ahead with financial protection against a critical illness, such as a heart attack, stroke or bypass surgery.

“Recovering from a critical illness, such as a heart attack or stroke, can carry some pretty expensive medical expenses, but non-medical expenses can also quickly add up,” said Mary Ann Beliveau, assistant vice president, Product and Market Development at Unum. “Benefits from critical illness insurance can provide financial support so an individual can concentrate on getting better instead of paying the bills.”

Critical illness insurance pays a lump sum benefit directly to insured people diagnosed with a covered illness. Individuals can use the benefit any way they see fit, for medical or non-medical expenses such as paying bills, groceries and even child care.

Without adequate protection, people who suffer a heart attack or stroke might have to use their savings or rely on family, friends or credit to cover their expenses. According to the American Association for Critical Illness Insurance nearly two-thirds of U.S. bankruptcies are the result of medical expenses. Even more troubling, 78 percent of those filing for bankruptcy had health insurance when they were first diagnosed. 

Unum, a leading provider of critical illness insurance, says heart-related incidences account for almost 30 percent of its critical illness claims. Heart conditions are second to cancer, which accounts for more than half of the company’s critical illness claims.

“A critical illness, even covered by the most generous medical plans, can leave an individual with a stack of bills and other financial commitments,” Beliveau said. “The benefits of critical illness coverage can go a long way in helping to ease these financial worries.”

About Unum

Unum (www.unum.com) is one of the leading providers of employee benefits products and services in the United States and the United Kingdom. Through its subsidiaries, Unum Group paid approximately $6 billion in total benefits to customers in 2010.