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catastrophic illness

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catastrophic illness,
any illness that requires lengthy hospitalization, extremely expensive therapies, or other care that would deplete a family's financial resources, unless covered by special medical insurance policies. In Canada, catastrophic illness is covered by Medicare.

catastrophic illness
 A morbid condition that results in health care costs that exceed a person's income, or which compromise financial independence, reducing him/her to subsistence or near-poverty levels; CIs are usually life-threatening and may leave significant residual disability–eg, AIDS, major burns, trauma with residual paralysis or coma, and terminal CA


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Lessons From The Miracle Doctors: A Step By Step Guide To Optimum Health And Relief From Catastrophic Illness by Jon Barron (member of the advisory board of The Health Sciences Institute) is a no-nonsense guide that anyone can follow to optimize their diet, nutrition, exercise, and life habits for improved well-being, especially when confronted with the specter of severe health threats.
While this approach may work for the young, healthy and affluent, it does not benefit persons who suffer a catastrophic illness or injury, become chronically iii or lose their health insurance.
Future success for life insurers hinges on the ability to sell financial products that promise a lifetime income and protect against the toll catastrophic illness and inflation could take on individual assets.
 
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