According to the American Cancer Society, the 5 year survival rate for all types of cancer is 68%.  The American Heart Association reports survival rates for heart attack & stroke have improved significantly with deaths due to cardiovascular disease falling by almost 33% and stroke by almost 37%.  

So what do these #'s and trends mean?  There is a very good chance that if you or a loved one suffers from cancer, heart attack or stroke there will be a cost of survival that needs to be addressed.  The medical bills will hopefully be mostly covered by a Major Medical insurance policy but what about the other costs associated with a diagnosis?  

These costs include:

• Replacing lost income while unable to work
• Paying health insurance deductibles & copay
• Hiring home health care or child care services
• Keeping up with monthly expenses like mortgage, utilities & groceries
• Traveling to receive treatment

***According to the Centers for Disease Control & Prevention, the economic burden for survivors is substantial.  Here is what they found:

So how can Cancer and Heart Attack/Stroke insurance help?  It's simple.  The policy owner receives a LUMP-SUM CASH PAYMENT between $10,000 and $50,000 upon diagnosis.  The money can be used any way he/she chooses.  This type of policy provides cash when it's needed most.  Instead of worrying about how to pay the bills, you or your family member can focus on getting better!  

For more details please call the Licensed Experts at The Legacy Council at (513) 442-2000.  

When most people think of Life Insurance they think of a product that pays a lump sum death benefit tax-free to a beneficiary upon the policy owner's death.  While this is true, it is only part of what a Life Insurance policy can provide.  There are many types of Life Insurance products, and one in particular that is growing in popularity for its Retirement Planning benefits is what is known as an Indexed Universal Life policy (IUL).  

I personally have an IUL and added it to my portfolio many years ago for several reasons.    The first is the policy allows for an instant Death Benefit from day one creating an instant "Estate" for one's heirs.  This is typical with all types of Life Insurance policies but with an IUL the policy owner has the ability to "overfund" the policy by paying more than the monthly premium (cost of insurance) every month which builds cash value within the policy that can grow tax-free over time.  

This is where an IUL gets exciting!  The cash value gains interest based on the growth of a stock index (such as the S&P 500) and the interest earned is locked-in each year allowing for protection from market volatility.  The cash value is never actually invested in the stock market but grows based on how the stock index performs.  Once the cash value has accumulated over time and the policy owner needs additional income for Retirement, the policy owner has the ability to take out what is called a Policy Loan from the cash value.  Since this loan is not a withdraw, the funds are not reported to the IRS, creating a Tax-Free stream of income during Retirement.  

There are many other features to an IUL and some of these features can be complicated so make sure to contact one of the Licensed Experts at The Legacy Council at (513) 442-2000.