Life insurance is a vital part of the ecosystem that helps protect the financial, emotional and physical wellbeing of Australians. But without a better understanding of how each of these systems interact, and a realistic appreciation of the true costs of poor health, we are ill equipped to judge the appropriate types and levels of support to best suit our circumstances, and to navigate a complex network of services and providers. Given that many Australians adopt a ‘she’ll be right mate’ attitude, are your clients financially prepared for the cost burden of experiencing, or caring for someone experiencing, illness or injury?

“The average cost to traditional health insurers for the first 90 days following a heart attack is $38,501”

https://www.nber.org/digest/oct98/economic-benefit-heart-attack-treatments-outweigh-cost

• “Expenditure on cardiovascular diseases is projected to increase by $8.3 billion (105%) in the 30 years to 2032-33”

https://www1.health.gov.au/internet/publications/publishing.nsf/Content/cardio-pubs-review~cardio-pubs-review-05-currentenv~cardio-pubs-review-05-currentenv-3-rhc

Overview

It is our mission to help people live as well as possible for as long as possible. With that in mind we want to enlist businesses, corporations, organisations and sporting bodies to actually predict and prevent heart attack.

Our program is uniquely positioned to save lives in such a way that employers can empower their members to assess their risks and put a plan in place to prevent a life-threatening event before it even happens. 

With a mixture of latest technology that few even in the medical profession are aware of and a world-renowned Cardiologist Doctor Warrick Bishop make us global leaders in this simple and effective strategy.

From an insurer’s perspective the cost of a heart attack event for one of their clients can be considerable and more likely preventable using this program.

Depending on the insurance being claimed this could represent a “win-win” scenario by saving the cost of medical care or life insurance and the member who doesn’t have the event in the first place. If around 10% of members over 45-50 have an event in the next 5-10 years and that’s a potential saving of $400,000 per 100 members.

References:

• “The average cost to traditional health insurers for the first 90 days following a heart attack is $38,501”
  https://www.nber.org/digest/oct98/economic-benefit-heart-attack-treatments-outweigh-cost
• “Expenditure on cardiovascular diseases is projected to increase by $8.3 billion (105%) in the 30 years to 2032-33” https://www1.health.gov.au/internet/publications/publishing.nsf/Content/cardio-pubs-review~cardio-pubs-review-05-currentenv~cardio-pubs-review-05-currentenv-3-rhc
• “Australian expenditure on CVD is enormous; more is spent on CVD than any other disease group. In 2012-2013, $5 billion was spent on healthcare for people with CVD, which equates to 12% of all healthcare expenditure.” “The indirect costs of CVD are also hefty. Treating CVD often involves large surgical procedures, lengthy recovery periods, loss of independence and loss of income. In addition, many people who experience a cardiovascular event, such as heart attack or stroke, will take time off work, resulting in losses to their employer as well”

https://www.adviservoice.com.au/2019/01/cpd-the-cost-of-care-part-3-the-cost-of-heart-and-artery/