What is group critical illness insurance?
Group critical illness insurance is available to cover 3, 11 or 19 critical conditions. Each plan provides a one-time, lump-sum payment if a member is diagnosed with one of the covered critical conditions, after the effective date of coverage, and survives a specified amount of time (usually 30 days). This coverage differs from disability insurance as it is paid to a member regardless of whether he or she is able to work.
How much does group critical illness insurance cost?
Group critical illness insurance is generally priced based on age, gender, smoking status and the amount of coverage selected. Offering CI as part of a benefits plan can help employees protect themselves and their families if they should face a serious illness. They will be better able to access the medical treatment they need and to focus on their recovery without worrying about the financial burden. Employers benefit from improved employee loyalty and productivity and enhanced recognition as an employer of choice.
Give your employees more ….
Our group plan experts currently are available to help you to design a customized plan depending on the size of the group, your objectives of the plan sponsor and the benefit plan budget.
We can save money for your company immediately without changing your current benefits' provider.