Battling the Costs of a Stroke with Critical Illness Insurance
- High School Teacher
I’ve been teaching at my town’s high school for 25 years. I’ve always been conscious about saving money, as my dad emphasized the importance of being wise with how I spend my income. Ever since my husband died about 10 years ago, I’ve been doing my best to budget on a single income for my retirement and my daughter’s college fund. Kelsey is a sophomore in one of our state’s colleges, studying to become an accountant. She’s my world, and I’ve always wanted to help her graduate debt-free.
Between my job and payouts from my husband’s life insurance policy, I’ve saved enough money to put her through college while keeping my goal to retire at age 65 realistic, but there’s always a part of me that worries about being thrown off my financial plan. That’s why I enrolled in critical illness insurance through my employer. I wanted an extra level of protection in case something happens to my health, especially while my daughter is in school, so that my financial plans are not thrown off track.
While I hoped I’d never need to use the coverage, I had a stroke about a year ago, which forced me to take an extended leave from work. While my health insurance covered most of my expenses, and long-term disability coverage provided continued income while I was on leave, there were still out-of-pocket expenses and household bills I needed to pay. I used the lump-sum payment I received from my critical illness plan to help cover these costs, as well as my copays for rehab treatments and prescriptions. The coverage really helped reduce my stress levels and enabled me to focus on recovering, especially since I didn’t have to dip too much into my savings.
One year later, I’m back in my classroom and I feel great. While my treatment and recovery were expensive, it wasn’t nearly enough to throw off my plans for retirement and my daughter. Kelsey is thriving in school, and she’s still on track to graduate debt free. She thanks me for my support every now and then and lets me know that she loves me. It makes me feel like a champion!
*Information edited for privacy