Critical Illness Insurance
A diagnosis of cancer, heart attack, or stroke interrupts a person's life physically, emotionally, and economically. Employers demonstrate their concern for their employees with supplemental workplace voluntary plans that address employees' specific health concerns.
The Value of Workplace Voluntary Critical Illness Coverage
A critical illness plan enables employees to help fight the costs associated with a life-threatening disease, while providing some peace of mind to the family. Benefits are paid with a one-time, lump-sum payment. This one-time payment allows the benefits to be used for any purpose, including:
- Help offset loss of income
- Deductibles, copayments, and scheduled benefit limitations
- Treatments considered experimental
- Transportation expenses to and from doctors and treatment facilities
- Normal living expenses (mortgages, car payments, utility bills, childcare, groceries, credit card bills, etc.)
Plan Benefit Options
Some plan designs encompass a wider array of benefits, including coma, occupational HIV, and paralysis.