Critical Illness Protection Plan

Give employees more security from the high cost of a critical illness

Americans suffer 1.5 million heart attacks and strokes each year.1 About 1.6 million new cancer cases are expected to be diagnosed in the U.S. this year.2  Then consider that many employees are not prepared for high, unexpected costs. Almost two in three U.S. workers say they have less than $1,000 on hand to pay the out-of-pocket expenses of an unexpected, serious illness or emergency.3

A health plan only goes so far. Consider the cost and productivity impact due to heart attacks, stroke and cancer.

Offer the Critical Illness Protection Plan

Our Critical Illness Protection Plan is insurance that pays a lump-sum cash benefit directly to a covered employee after a diagnosis of a critical illness. The amount of the cash benefit is based on the condition, covered expenses and treatments covered by the employee’s plan.

Any payment the plan makes is in addition to the benefits your employees receive from their health plan. The employee can use the money to help pay their health plan deductible, prescription costs or for other expenses to manage their illness. Or, they can use it to help cover mortgage or rent payments, groceries and more.

Help your health plan

With millions of employees now in high-deductible health plans, they are even more susceptible to high out-of-pocket costs.4 Offering the Critical Illness Protection Plan gives you and your employees added relief from the financial burdens and stress that can come with a major illness.


How it works: Sharon’s example5

Sharon signed up for the voluntary plan (she pays 100% of the plan premium). During the plan year, she is diagnosed with invasive cancer. Six months later she also has a stroke.

Sharon signed up for the Critical Illness Protection Plan

Sharon signed up for Plan A at a cost of about $17 per month. Play A pays her $10,000 for each covered base condition.

Sharon’s health care costs added up to $15,000+

While her health plan helped, Sharon still has out-of-pocket costs and faced lost wages. She submitted a Critical Illness claim.

Sharon received $20,000

After Sharon’s claim was verified and processed, she received a lump-sum payment for each covered condition. Sharon has an emergency fund to help her during her recovery.

Footnotes

  1. American Heart Association. Disease and Stroke Statistics 2017 Update. A Report From the American Heart Association; Mar. 2017. Web.
  2. American Cancer Society. Cancer Facts & Figures 2017. Atlanta: American Cancer Society; 2017. Web.
  3. Weschler, Pat. “63% of Americans Can’t Cover Unexpected Expenses.” Fortune. 63% of Americans Can’t Cover Unexpected Expenses. Time Inc., 06 Jan.
  4. “2015 Census of Health Savings Account - High Deductible Health Plans.” 2015 Census of Health Savings Account - High Deductible Health Plans. America’s Health Insurance Plans, Nov. 2015. Web.
  5. For illustrative purposes. Premium, benefit and care amounts will differ based on market, plan and covered conditions.