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Critical Illness Insurance

What Is Critical Illness Insurance?

Critical Illness Insurance (CI) provides a financial, lump-sum benefit to employees upon diagnosis of a covered illness. These covered illnesses are typically very severe and likely to render the affected person incapable of working. Because of the financial strain these illnesses can place on individuals and families, critical illness insurance is designed to help ill employees pay the mortgage, seek experimental treatment or handle unexpected medical expenses.

Why Employees Need Critical Illness Insurance

In 2014, around 1.5 million Americans will declare bankruptcy. 60% of those bankruptcies are due to medical bills.1

Traditional healthcare insurance only covers some of the expenses that an employee may face when diagnosed with a critical illness. Critical Illness Insurance can help cover some of those unexpected expenses.

What Critical Illness Insurance Covers

Our critical illness insurance offers benefits for 34 serious illnesses, related expenses and treatments, in each of the following categories:

Cancer Benefits & Expanded Cancer Benefits

  • Invasive cancers
  • Noninvasive cancers
  • Benign brain tumor
  • Second opinion benefit and more

Vascular Benefits

  • Heart attack and transplant
  • Stroke
  • Coronary artery bypass and more

Other Benefits

  • Major organ transplant
  • End stage renal (kidney) failure
  • Bone marrow transplant and more

How Critical Illness Insurance Is Flexible

We help employees choose or develop a critical illness plan that will best suit their specific needs.

Employees can access a standard plan, which includes a choice of coverage amounts for the following categories, each with benefit amounts up to 100% of the coverage amount for covered illnesses:

  • Cancer Benefits
  • Expanded Cancer Benefits
  • Vascular Benefits
  • Other Benefits (this plan also includes the Recurrence Benefit)

We’ve also provided the option to custom-build a CI plan that’s works for each company’s employees. It can include these benefits and more:

  • Neurological Benefits
  • Child-Specified Benefits
  • Transitional Care Benefits
  • Travel Benefits
  • Health Screening Benefit
  • Occupational HIV/Hepatitis Benefit

All this is available at affordable group rates, up to the guaranteed issue2 amount and with no required waiting periods, in addition to the following:

  • Policy may pay up to 500% of elected benefit amount
  • Guaranteed issue2 amounts up to $30,000 (contingent on group size)
  • Annual open enrollment
  • Only 10 enrolled lives required for participation
  • Easy payroll deduction of premiums
  • Attained age rates with flexible age bands by coverage tier (Employee Only, Employee + Spouse, Employee + Child or Family)
  • Available issue age rates
  • Portability of coverage with current benefits and rates

What Employees Get

We go beyond the benefit with a variety of value-added employee services to help make the difficult times a little bit easier. Learn more about:

  • Ability Assist®4 – Confidential support for emotional, legal and financial issues
  • HealthChampionSM5 – Offers unlimited access to benefit specialists and nurses for administrative and clinical support to address medical care and claims concerns.