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Sigma Financial Group
What Is Critical Illness Insurance?

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I would like more information about Critical Illness Insurance.
Critical illness insurance, otherwise known as critical illness policy or dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy. These illnesses include cancer, stroke and/or heart attack.

Sigma Financial Group represents Mutual of Omaha's The New Beginnings Insurance Plan portfolio that provides lump-sum benefits for each of the following policy options:
  • Cancer insurance
  • Heart attack and stroke insurance
  • Cancer, heart attack and stroke insurance
These polices are designed to supplement other coverage a policyholder may have by providing a full cash benefit upon diagnosis that be used any way he or she chooses. Additionally, the Heart Attack/Stroke and Cancer/Heart Attack/Stroke policies provide a payout of 25 percent of the benefit amount for coronary artery bypass surgery or coronary angioplasty.

Mutual of Omaha's cancer and cardiac products are unique to the insurance industry because they offer terms of 10, 15, 20 or 30 years, in addition to the traditional lifetime coverage. These options create flexibility for customers allowing them to select the coverage to fit their budget and needs.

All three of the policy options feature:
  • Benefit amounts of $10,000 to $50,000
  • Plans for individual, individual plus child/children or family
  • Express underwriting so consumers who qualify receive their policy faster
The portfolio includes optional riders so customers can customize their coverage.
  • A Heart Attack and Stroke Benefit can be added to a cancer policy.
  • A Cancer Benefit can be added to a heart attack and stroke policy.
  • An Intensive Care Benefit can be added to any of the policies with a lifetime term to provide a daily room benefit for each day a person is confined to an intensive care unit, up to 30 days.
  • A Cash Value Benefit is available on any of the policies with a lifetime term to return a percentage of premiums paid for the policy and all riders, minus any benefits received.
Here's an example of how a Cancer policy can provide the funds you may need.
  • Tina was diagnosed with cancer and is unable to work. Her health insurance policy has a $2,500 deductible, which means that's the amount she has to pay out of pocket
  • With no money coming in, she still has ongoing expenses (mortgage, utilities, groceries, etc.)
  • She needs someone to look after her and take her to medical appointments for treatment, but her daughter lives across the country.
  • Fortunately, Tina has a Cancer policy that pays a $20,000 benefit. That means she receives $20,000 upon diagnosis, giving her the funds she needs to pay her health insurance deductible plus money she can use to help cover her monthly expenses and pay travel expenses to bring her daughter for an extended visit.*
* This is a hypothetical situation our customers may face. It does not represent an actual person
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I would like more information about Critical Illness Insurance.
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Deferred Annuities.
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Business Financing.


Sigma Financial Group
1110 Pivot Rock Road
Eureka Springs, Arkansas 72632

For more information, please call or email us:
(479) 253-7343
(361) 442-6635- Cell
(479) 253-7661- Fax
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