Los Angeles, CA, March 18, 2020 --(PR.com
)-- To help consumers understand the affordability of cancer insurance and critical illness insurance, an online calculator has been introduced by the American Association for Critical Illness Insurance.
"Cost is always a critical factor when consumers are considering a purchase and that's especially true with insurance products today," states Jesse Slome, director of the critical illness insurance organization. "The Association's new cost calculator will appear at the very top of almost every page on our new website and provide instant costs for $10,000 of cancer insurance."
The critical illness insurance cost calculator merely requires the consumer enter their sex, age and whether they are a smoker or non-smoker. "There is no personal information needed to immediately see the cost," Slome explains. "The cost appears immediately and we don't ask or want to gather any personal information. We merely are striving to show consumers how affordable this important coverage can be."
Slome noted that the decision to show the cost for $10,000 of cancer insurance was made to be most beneficial to the largest number of young adults. "For millions of Americans between the ages of 35 and 55, cancer is the critical illness they are most likely to have prior to reaching age 65 to 70," Slome shares. "The average critical illness insurance policy purchased today is around $15,000 in benefits, so the modest policy seemed to make the most sense. Obviously, if someone wants more coverage, they can easily estimate what their potential cost might be."
The critical illness insurance cost calculator is designed to demonstrate the affordability of cancer insurance and encourage consumers to seek actual pricing for coverage options. "When consumers hear they can purchase cancer insurance protection for the cost of one or two cups of coffee a month, they'll be interested enough to take the next steps to learn more," Slome predicts.
The calculator revealed that a male, age 45 who does not use tobacco could pay as little as $48 a year for $10,000 of cancer insurance. A female, age 45 who uses tobacco would pay $108 yearly for the same level of insurance. "I chose to show smoker and non-smoker rates because it shows the numbers most fairly," Slome adds. "When rates are the same for both, the non-smokers are more or less subsidizing some of the added risk of insuring smokers."
To learn more and access the critical illness insurance cost calculator, visit the Association's website at www.criticalillnessinsuranceinfo.org.
Jesse Slome is founder and director of the American Association for Critical Illness Insurance, headquartered in Westlake Village, California. Slome also heads up the American Association for Long-Term Care Insurance as well as the American Association for Medicare Supplement Insurance.