U.S. insurtech Breeze announced on Wednesday it has added a critical illness insurance product to its digital platform. The company revealed that the new product will expand its partnership with Assurity Life. According to Breeze, individuals may request personalized critical illness insurance quotes and complete a secure digital application process in as little as ten minutes.
“In a country where 60% of Americans cannot cover an unexpected $1,000 expense, 63% of cancer patients face financial struggles, and 66% of bankruptcies are tied to the costs from medical treatments, having access to affordable critical illness insurance can go a long way. Critical illness insurance provides a lump-sum cash benefit of up to $75,000 if you experience a first-time diagnosis of cancer, heart attack, stroke or other covered condition. This payment can be used to cover health insurance deductibles and copays, replace lost income from missed work, pay bills and living expenses, as well as finance experimental treatments and travel.”
Speaking about the service, Colin Nabity, Co-Founder and CEO at Breeze, stated:
“Launching an online critical illness insurance product expands Breeze’s mission to protect Americans in their most financially vulnerable moments. With more Americans turning to crowdfunding platforms to pay for large, unexpected medical bills, this product provides a simple, affordable way to help cover the costs of financially catastrophic conditions not covered by health insurance.”
Founded in 2018, Breeze claims it is modernizing disability insurance for today’s workforce.