Download Critical illness and cancer coverage

Critical illness and cancer coverage
Unum benefits help shield finances from
high treatment costs
Risk of critical illness
• The risk of developing cancer
during a lifetime is nearly 1 in 2
for men and a little more than
1 in 3 for women.1
Surviving cancer is only part of the battle. Protecting your
savings is vital, too.
Many cancer survivors find their finances devastated after treatment:
48% of cancer patients
surveyed used all or a
portion of their savings
during treatment.3
The American Cancer Society
predicts over 1.6 million
new cases of cancer will be
diagnosed in the U.S. in 2012.4
Today’s higher deductibles, coinsurance
and copays shift more
cost to the patient.
How critical illness insurance coverage can help
• Men have a greater risk of
developing a critical illness during
their working years than women.
−− Among men who use tobacco, the risk is 49%.2
Here is an illustrative example of the cancer treatment expenses employees may
face — even with medical insurance — and how critical illness insurance coverage
can help.5
Typical cost of cancer care
Treatment expenses
Financial impact
$500deductible
Treatment cost total:
$11,660
$960copayments for
specialist visits
$3,200travel/lodging
$7,000alternative therapy
Lost income:
$24,996
Critical illness
coverage
$50,000
lump sum
payment
Employee illness debt:
$36,656
For illustrative purposes only.
Valuable combinations of coverage
• Critical illness coverage can offer workers financial protection from the expense
of several serious covered conditions, including cancer, heart attacks and strokes.
−− Today’s funding options meet the needs of employers and employees.
MORE
To learn more, contact your
local Unum representative.
MK-1931 (10-12)
• Unum data shows that cancer is a leading cause of workplace disability. Offering
short term and long term disability insurance can help cancer patients continue
an income stream during treatment.6
CRITICAL ILLNESS COVERAGE PROVIDES LIMITED BENEFITS.
The policies or their provisions may vary or be unavailable in some states. The policies
have exclusions and limitations which may affect any benefits payable. See the actual
policy or your Unum representative for specific provisions and details of availability.
In NY, specified disease insurance is offered. This policy provides limited benefit health
insurance only. It does NOT provide basic hospital, basic medical or major medical
insurance as defined by the New York State Insurance Department. The expected benefit
ratio for this policy is 60%. This ratio is the portion of future premiums which the company
expects to return as benefits, when averaged over all people with this policy.
In NY, Short term and long term disability policies provide disability income insurance
only. They do NOT provide basic hospital, basic medical or major medical insurance as
defined by the New York State Insurance Department.
1 American Cancer Society, “Cancer Facts & Figures 2012.”
2 American Association for Critical Illness Insurance, “National Critical Illness Risk
Assessment Study,” January 6, 2010.
3,4 American Society of Clinical Oncology, “Impact of out-of-pocket expenses on cancer
care,” by Y. Zafar, A. M. Goetzinger, R. Fowler, A. Gblokpor, D. Warhadpande, D. H. Taylor,
MK-1931 (10-12)
FOR BROKERS AND EMPLOYERS
D. Schrag, J. M. Peppercorn, A. P. Abernethy; Duke University Medical Center, Durham, NC;
Dana-Farber Cancer Institute, Boston, MA; Duke Cancer Institute, Durham, NC, August 2011.
5 American Society of Clinical Oncology, “Impact of out-of-pocket expenses on cancer
care,” by Y. Zafar, A. M. Goetzinger, R. Fowler, A. Gblokpor, D. Warhadpande, D. H. Taylor,
D. Schrag, J. M. Peppercorn, A. P. Abernethy; Duke University Medical Center, Durham, NC;
Dana-Farber Cancer Institute, Boston, MA; Duke Cancer Institute, Durham, NC, August 2011.
6 Unum internal data, 2012.
Critical illness insurance is underwritten by:
Provident Life and Accident Insurance Company, Chattanooga, Tennessee
Short term and long term disability insurance are underwritten by:
Unum Life Insurance Company of America, Portland, Maine
In New York, products are underwritten by:
First Unum Life Insurance Company, New York, New York
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