Critical illness insurance complements your major medical coverage by providing a lump sum benefit upon diagnosis of a covered critical illness. That benefit can be used to pay direct and indirect costs related to a covered critical illness, which can often be expensive and lengthy. Family coverage is also available.
As long as you are actively at work and meet your employer's eligibility requirements, you can elect the coverage. The critical illness does not have a waiting period or pre-existing condition limitation.
Critical illness insurance pays a lump sum benefit if you are diagnosed with a covered illness or condition on or after your coverage effective date. Critical illness is called Specified Disease in some states.
No. Critical illness insurance is a limited benefit policy. This is not health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act.
Critical illness will pay a lump sum benefit in the event you are diagnosed with a covered illness such as a heart attack, stroke, renal failure or cancer, to name a few.
The premium is based on the amount of coverage you elect and your age. Premiums are deducted from your paycheck.
Yes. You may elect coverage during your open enrollment period. Depending on your policy, you may have a pre-existing condition limitation.
