Critical Illness Insurance

Critical illness insurance protects employees from the financial expense of major illnesses including benign brain tumors, cancer, end-stage renal kidney failure, heart attacks and strokes. In the majority of instances, employees hit the maximum out-of-pocket expense associated with their health insurance when they or a family member suffer a critical illness.

Upon experiencing a critical illness, this benefit will pay the employee directly a specified dollar amount ranging from $5,000 to $50,000. The funds then can be utilized towards medical and other out-of-pocket expenses as well as help make up for lost wages. At the time of enrollment, employees would select the benefit dollar amount ($5,000 - $50,000), they wish to receive should they have a critical illness. The higher the benefit amount selected, the higher the premium.

Employees are eligible to enroll in the benefit regardless of whether the employee has health insurance through the employer, spouse, privately or does not have health insurance. Employees may enroll just themselves or other family members (spouse, children) should they choose to do so. Employees own the benefit and can take it with them at the same rate should they leave the company or retire.