Discover What Makes Our Chronic Illness Coverage Better
Six out of ten adults in the U.S. have a chronic disease.1 That’s why North American strives to offer life insurance that can bring more value and flexibility to your clients, including through our accelerated death benefit endorsement for chronic illness.2 But, not all chronic illness benefits are created the same.
What makes North American’s coverage different?
- A chronic illness3 doesn’t have to be permanent
Other carriers may require a chronic illness to be permanent. We do not. - No receipts required
No need to show receipts to get the money, unlike other companies. - Waived monthly deductions
for the first $2,000,000 of the policy’s death benefit amount.
Learn more about what makes North American’s living benefits different.
1. Source: Centers for Disease Control and Prevention – https://www.cdc.gov/chronicdisease/resources/infographic/chronic-diseases.htm
2. Subject to eligibility requirements. An administrative fee is required at time of election for the Chronic or Terminal illness benefit. For permanent products, there is no administrative fee when the Critical Illness benefit is elected. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated.
3. One is considered chronically ill if he or she is unable to perform, for at least 90 days, without substantial assistance from another person, at least two Activities of Daily Living (bathing, continence, dressing, eating, toileting and transferring) or requires substantial supervision by another person to protect against threats to health and safety due to severe cognitive impairment. Definitions for chronic illness may vary by state. Refer to your state specific accelerated death benefit endorsement form for complete information.