VOLUNTARY CRITICAL ILLNESS
46 Years Experience
“What makes this product so exciting in the marketplace is that it can pay an
insured for more than one covered illness.” The new group critical illness product
offers three categories of covered illnesses and insured's can receive benefits if they experience
a covered illness in each category for a total of up to three benefits payouts. For example, if an insured purchases coverage with a face amount of $50,000 then has a stroke, he receives a $50,000 benefit. If he later has a major organ transplant other than a heart transplant, he could receive an additional $50,000 benefit and then a final $50,000 benefit if he’s subsequently diagnosed with cancer (if the cancer coverage option was chosen).
The group critical illness program also provides an optional recurrence benefit that can pay for a recurrent of the same critical illness.
The group voluntary critical illness product offers family coverage if an employee purchases the coverage – something not easily found in the voluntary critical illness insurance market.
In addition, the product’s wellness benefit helps encourage early detection of illnesses by paying a benefit for one of 20 screening tests such as a blood test for triglycerides, bone marrow testing, stress test on a bicycle or treadmill, virtual colonoscopy, chest x-ray, mammography, thermography, PSA blood test for prostate cancer and more.
“Critical illness coverage is important because even people who carefully plan for the unexpected by buying life, disability and health insurance may find that expenses relating to a specific illness may be more than what their insurance covers.” “With group critical illness insurance, an insured who’s diagnosed with a covered illness can receive benefits to help ease financial burdens.”
Illnesses covered under the group critical illness insurance plan include:
● Category 1 – Heart attack (myocardial infarction), transplant as the result of heart failure, stroke, bypass surgery as the result of coronary artery disease.
● Category II – Transplant as the result of a major organ failure other than heart, end stage renal failure, blindness, permanent paralysis caused by a covered accident.
● Category III – (optional) – Cancer, carcinoma in situ (optional)
F. D. Lindsey