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Article: Living longer with critical illness: a critical illness policy can bridge the financial gap created when you survive a major illness. (Insurance).
- Article from:
- Money Digest
- Article date:
- February 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Money Digest. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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At the beginning of the previous century, a 20-year-old man could have expected to live to the ripe old age of 62, on average. A 20-year-old woman could have expected to live to 63, on average. But with advances in medical science, the Society of Actuaries now tells us a man who turns 20 in the year 2003 should plan to live to be around 74; and a woman to age 81.
In fact, as we live longer the probability of having a critical illness and surviving increases dramatically. Dr. Christian Barnard, the famous heart transplant surgeon from South Africa, witnessed financial disaster in the lives of people he had saved through transplant surgery. He was so moved and ...