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Protecting What Matters Most


Critical Illness Insurance: Benefits in Your Hands

Serious illness can strike at anytime, to anyone. As you are keenly aware, with recent medical advances, certain diseases that once were thought to be incurable are now survivable. Yet, surviving physically may leave you with another serious issue: How will you survive financially?

The Unexpected Cost of Critical Illness

Today, health insurance premiums have increased. Every year, premiums increase, and to offset the cost of these premiums, people often increase their deductibles and copays. The simple fact remains: it costs more these days to buy coverage and to get sick.

Yet, obtaining a health insurance policy does not protect you completely from the financial burden and strain of being seriously ill. When a life is truly on the line, we are willing to consider options that are not covered by standard health insurance, including out of network care and high-cost treatments. There are other expenses involved in being seriously ill that may strain your finances: extensive travel, out-of-pocket medical costs, as well as the combined factors of decreased income and increased living expenses.

As a physician, you have worked hard to achieve a place in life where you are financially secure. A critical illness can wreak financial havoc and derail your goals and dreams for the future. Critical illness insurance can help cover some of the expenses that may not be paid by your health insurance if you are diagnosed with a serious condition. These policies pay approved benefits directly to you in the event of a diagnosis of heart attack, life-threatening cancer, stroke, and other critical medical conditions.

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An Example in Critical Illness

Cancer is one example of a critical illness that is all too common. According to the NIH, almost 40% of Americans will be diagnosed with cancer at some point in their lives.* The physical prognosis may be positive, but the road to recovery is not smooth. A cancer survivor may face unpredictable, even unmanageable costs, including:

• Health Insurance Deductibles

• Out-of-network appointments

• Procedures and medications that are not covered by health insurance

• Transportation and travel costs

• Additional child care or senior care for family members

• Caregiving services for the patient

• Professional guidance (legal and/or financial)

• Lost Income

Indeed, these expenses can add up quickly. This is why Critical Illness insurance can be such a help. Critical illness insurance benefits are paid directly to the patient to be used as they see fit. Whether the insured needs to buy groceries, pay the mortgage, fund an experimental treatment, obtain a potentially life-saving medication – it is up to the person, not the insurance company, to decide.

Important Decisions, Trustworthy Guidance

Is Critical Illness insurance right for your situation? If you are still building your savings or have savings you want to shield, it may be worth a conversation with one of our advisors. Remember, our advisors have decades of experience, and they don’t work on commission – we work for the future of Texas physicians like you. Reach out to us today.

If you wish, you can apply for The TMA Member Critical Illness Plan issued by The Prudential Insurance Company of America at any time online. To get started, click here.

*2018 - National Cancer Institute, Cancer Statistics. https://www.cancer.gov/about-cancer/understanding/statistics

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For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.

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This coverage is not health insurance coverage (often referred to as “major medical coverage”).
This type of plan is NOT considered “minimum essential coverage” under the Affordable Care Act and therefore does NOT satisfy the individual mandate that you have health insurance coverage. If you do not have other health insurance coverage, you may be subject to a federal tax penalty.
Group Critical Illness Insurance coverage is a limited benefit policy issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. Prudential’s Critical Illness Insurance is not a substitute for medical coverage that provides benefits for medical treatment, including hospital, surgical and medical expenses and does not provide reimbursement for such expenses. The Booklet-Certificate contains all details, including any policy exclusions, limitations, and restrictions which may apply. If there is a discrepancy between this document and the Booklet-Certificate/Group Contract issued by The Prudential Insurance Company of America, the Group Contract will govern. A more detailed description of the benefits, limitations, exclusions applicable are contained in the Outline of Coverage provided at time of enrollment. Please contact Prudential for more information. Contract provisions may vary by state. Contract Series: 114774.

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