Critical Illness Insurance
Chronic and debilitating illnesses affect millions of working Americans every year. Requiring extensive treatment,
these health conditions are often life changing emotionally, physically and monetarily. Nearly one in three working
adults will be diagnosed with some form of critical illness before they reach retirement. This harrowing reality has
led to financial solutions like Critical Illness (CI) insurance.
The product is a guaranteed-issue group plan which provides a lump sum benefit to an employee and/or their
employer if they are diagnosed with one of many covered health conditions. Some of those conditions include,
but are not limited to cancer, dementia, heart attack, stroke, Alzheimer’s disease, multiple sclerosis and Parkinson’s
disease.
The purpose of the insurance is to help cover the costs associated with treatment and other expenses that ma
arise because of the employee’s illness, such as lost wages or the cost to find replacement personnel.
Key Details:
• Guaranteed Standard Issue (GSI) – no medical underwriting
• Census quoting and enrollment
• Mandatory participation
• Groups of 5 or more persons
• Benefit limits up to $2,000,000 per person
• Lump sum benefit payable upon diagnosis of a covered condition
• Benefits can be payable to the insured person or to their employer or both
