Critical Illness

Lump sum cash for a serious diagnosis

Critical illness insurance pays a tax-free lump sum directly to the employee after a covered serious diagnosis, such as a heart attack, stroke, or invasive cancer. The employee decides how to use the money, whether for medical bills, lost income, or travel. The group can offer a $10,000 or $20,000 benefit.

What this plan includes

• Lump-sum benefit of $10,000 or $20,000, depending on the option
• Heart attack, stroke, invasive cancer, major organ transplant, and coma pay 100% of the benefit; coronary bypass and cancer in-situ pay 25%
• Spouse and dependent children are covered at 50% of the employee's amount
• Reoccurrence benefit pays again for the same illness after at least 12 treatment-free months
• Employee paid; monthly cost depends on the employee's age
• Participation is the greater of 5 employees or 20% of eligible employees

Every plan is underwritten by Companion Life Insurance Company. Which plans you can offer depends on your industry and state. Costs shown are examples; the final rate depends on the plan, the coverage level, and ages.