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Of Interest.
Bob from Houston
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Date: Fri, 3 Apr 1998 11:18:31 -0500
Reply-To: Spinal Cord Injury Peer Net <scipin-l(AT)health.state.ny.us>
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From: Spinal Cord Injury Peer Net <scipin-l(AT)health.state.ny.us>
X-From: Maxim Bily <imax(AT)ODYSSEE.NET>
Subject: Facing Life-Threatening Illness Doesn't Have to Mean...
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Facing Life-Threatening Illness Doesn't Have to Mean
Financial Hardship
New Health Insurance Policy Offers Critical Illness
Protection
NASHVILLE, Tenn., April 3 /PRNewswire/ -- The
Canada Life
Assurance Company and Dr. Marius Barnard,
world-renowned South
African cardiac surgeon, have announced today a new
type of
supplemental health insurance designed to help
survivors of serious
illnesses maintain their financial stability. Dr.
Barnard, who originated
the concept of Critical Illness Insurance, has
teamed up with Canada
Life to launch the product in the United States.
The policy -- Living Advantage(TM) Critical Illness
Indemnity
Insurance -- provides a lump-sum benefit to
survivors of twelve leading
critical illness faced by Americans. According to
the National Center
for Health Statistics, 1995, one in four Americans
diagnosed with a
critical illness will survive. But the question is,
will their finances?
Millions of Americans are faced with that question
annually. Dr.
Barnard developed the concept of CII when he
realized his patients
"didn't lose their life, they lost their life
savings," after surviving once
fatal illnesses such as heart disease, cancer, and
stroke.
"Before the age of 65, the chances of suffering a
condition keeping
someone off work for more than six months are 15
times higher than
that of dying. Individuals now have a greater
chance of living long
enough to become seriously ill," said Dr. Marius
Barnard.
Dr. Barnard has teamed up with Canada Life to
create a new CII
product for the United States. Canada Life's
various business divisions
have been international leaders in the design and
sale of Critical Illness
Insurance (CII) policies for more than 10 years.
Canada Life's Living
Advantage CII policy provides a lump-sum benefit of
up to $2 million to
the insured who is diagnosed with and survives one
of 12 life-altering
illnesses (survival period may vary by state). The
benefit can be applied
for any purpose -- cost of recovery, loss of
income, home
improvements, college tuition, mortgage payments,
future lifestyle
changes ... anything.
"Canada Life wants to help people protect their
financial health after
surviving a life-threatening illness," said G.
Edward Hughes, vice
president of the U.S. Division of The Canada Life
Assurance
Company. "Living Advantage can help ensure that a
critical illness
doesn't have to mean financial hardship."
The 12 critical illness affecting millions of
Americans today and covered
by Living Advantage includes heart attack, stroke,
cancer, coronary
artery bypass, coronary angioplasty, major organ
transplant, Alzheimer's
disease, Multiple Sclerosis, renal failure,
paralysis, blindness, and
deafness. Individuals ages 20 to 64 years are
eligible to apply.
"Critical Illness Insurance gives you financial
independence when you
need it most," added Dr. Barnard. "You need
insurance not because you
are going to die today, but because you are going
to live."
According to the American Heart Association (1998),
13.9 million
Americans alive today have a history of coronary
heart disease, and
approximately 4 million stroke survivors are alive
today. There were
nearly 1.4 million newly reported cancer cases in
1997, according to the
National Cancer Institute. Spinal cord injuries
affect 250,000
Americans, and on average, 11,000 new injuries are
reported every
year, according to the American Paralysis
Association (1997). The
lump-sum Living Advantage policy benefit can be
applied as the
policyholder chooses, for example, towards home
modifications often
needed due to the debilitating effects of a
critical illness, or child care or
management staff needed by a parent or business
owner to maintain the
family or business.
While new to the United States, CII is one of the
most widely sold
insurance products in South Africa, Japan,
Australia, Ireland and the
United Kingdom. In recent years, through various
divisions of The
Canada Life Assurance Company, Canada Life has
introduced this
leading-edge product in Canada, Ireland, and the
United Kingdom.
"Living Advantage from Canada Life is a new way to
help protect
yourself against the high cost of rebuilding your
lifestyle following a
critical illness," said Hughes. "It helps provide
financial protection
against life's uncertainties."
For more information on Critical Illness Insurance
and Living
Advantage, contact Canada Life, US Division, 6201
Powers Ferry Road
NW, Atlanta, GA 30339, 800-333-2542.
The Canada Life Assurance Company's various
business divisions have
been international leaders in the design and sale
of critical illness policies
for more than 10 years, and Canada Life has
operated in the United
States for more than 150 years. The company has
successfully
launched Critical Illness Insurance in the United
Kingdom, Ireland,
Canada, and now the United States.
NOTE: Critical Illness Insurance, a specified
diseases-only policy, is not
suggested in lieu of, but in addition to, life and
medical insurance.
Canada Life's Living Advantage policy has been
filed in nearly all 50
states and is presently available in 21
states/jurisdictions: Alabama,
Alaska, California, Colorado, Delaware, Hawaii,
Idaho, Illinois,
Kentucky, Michigan, Mississippi, Nebraska, Nevada,
New Mexico,
Ohio, Rhode Island, Texas, Utah, Washington, DC,
West Virginia,
Wyoming.
-- Maksim (Max) Bilymail to: imax(AT)odyssee.net
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