When we think of cancer, stroke, heart attack, or other major illnesses, the first thought that comes to mind is “it’ll never happen to me.” But the devastation of a serious illness is far too common. Beyond the physical and emotional toll of fighting a disease, there lies the crushing financial impact of medical bills which is a major cause of American bankruptcies — even for those covered by health insurance.

But you can offer your clients financial protection should tragic circumstances strike. Here are three reasons why you should sell critical illness insurance.

1. Offer your clients a safety net against financial disaster

The National Association of Health Underwriters reports that over 60 percent of medical costs related to cancer, heart attack and stroke are not covered by health insurance — a fact that many of your customers would find sobering.

Critical illness insurance can help pay medical bills, living expenses or alternative treatments not covered by health insurance plans. Unlike disability insurance, which is based on the insured’s inability to work, critical illness plans usually offer a lump sum, tax-free payout upon diagnosis of a covered condition. Some policies set a specific survival period—the number of days an insured must survive post-diagnosis before a benefit is payable. In addition to lump sum plans, there are also indemnity plans which pay a benefit per service rendered, such as chemotherapy or hospital stays.

2. Critical illness insurance is in high demand

Demand for these products continue to increase. A market analysis was conducted and found that the critical illness market is expected to rise up to $93670 million by the end of 2026..

Now, more than ever, Americans are interested in preparation and security. Forty-three percent of American men and 38 percent of women will be diagnosed with cancer at some point in their lives, according to the American Cancer Society. An American suffers a heart attack every 34 seconds, and a stroke every 40 seconds.

As healthcare advances lead to higher survival rates from serious conditions, critical illness insurance will continue to make an impact.

3. Increase your bottom line

Critical illness plans can be highly profitable for brokers. The average policy has a $2,200 premium with a 70 percent first-year commission and four percent commission for renewal.

Premiums vary by an individual’s age, health, smoking habits. The American Association for Critical Illness Insurance has a handy critical illness cost calculator to provide an idea of coverage costs.

Talk to your clients about the high costs of unplanned medical circumstances—even for those insured under a health plan. Help your customers calculate how much money they would need to survive for three, six, nine, or even 12 months and to envision having peace of mind when dealing with a medical crisis. They will soon see the value in purchasing this coverage.