A Harvard study found 1.5 million families yearly borrow against homes or retirement to cover medical costs from serious illness. Critical illness insurance fills gaps standard plans leave: 60% of cancer expenses aren't covered, including experimental treatments, deductibles, and out-of-network care.
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According to a Harvard University study, each year more than 1.5 million American households must borrow money from their home equity and their retirement savings to pay for medical and non-medical expenses related to a critical illness like cancer, heart attack, or stroke, because many of these expenses are not covered by their health insurance. For example, according to the American Cancer Society, 3,000 people are diagnosed with cancer every day. But as much as 60% of cancer-related expenses are typically not covered by most health insurance plans, including many new therapies and experimental treatments or medical procedures, or fees and charges for doctors or hospitals, special clinics or treatment centers that are not within our healthcare network, as well as deductibles and copayments and amounts that exceed covered benefit limits. What's more, while patients recuperate from heart or brain surgery or struggle through chemotherapy and radiation treatments, health insurance