Group Critical Illness Insurance
News of a critical illness can be very upsetting. When you can offer an employee financial support during a difficult time with Group Critical Illness Insurance, the employee and their family can better manage with extra financial resources.
Group Critical Illness Insurance allows the critically ill to focus on recovery rather than worry about finances.
Group Critical Illness coverage is available for employees and their dependants with the option to purchase additional coverage if desired.
Benefits can be structured as either a flat amount (i.e. $25,000 to $100,000) or a multiple of the employee’s salary.
Once a covered employee or dependant is diagnosed by a Physician and submits their claim, upon approval from the insurer, he/she will receive a cash lump sum, tax-free.
This money may be used however the person chooses such as: private nursing, medical care, modifications to a home, childcare or flying family to town - allowing the person to focus on their health.
Covered IllnessesBasic plans typically cover these four major illnesses:
- Heart attack
- Coronary artery bypass surgery
Depending on the plan, the above illnesses plus these may be covered:
- Alzheimer's disease
- Aortic surgery
- Benign brain tumour
- Heart valve replacement
- Kidney failure
- Loss of independent existence
- Loss of limbs
- Loss of speech
- Major organ transplants
- Motor neuron disease
- Multiple Sclerosis
- Occupational HIV
- Parkinson's disease
- Severe burns