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Why Should You Consider Critical Illness Insurance?

Does your client's health insurance coverage provide for day-to-day living expenses if one of their valued active employees, retirees or a covered loved ones become seriously ill? Our flexible critical illness benefit can assist employees with the myriad of expenses associated with the initial diagnosis of a critical illness such as a heart attack, stroke, cancer or coronary artery disease.

Why CriticalAssistance AdvanceSM?

CriticalAssistance AdvanceSM offers flexible benefits designed to help you meet different client needs. It is a group product so it allows ease of enrollment for multi-state groups, while still paying competitive commissions.

CriticalAssistance AdvanceSM pays a lump sum benefit equal to the Elected Benefit multiplied by the percentage shown in the schedule of benefits upon the initial occurrence of a covered critical illness within each category. If the benefit payment is less than 100% of the Elected Benefit amount, the policy pays a benefit upon diagnosis of a different critical illness within the same category. The maximum payout in each category will be 100% of the benefit amount. Eligible employees can purchase coverage from $5,000 to $50,000 (in increments of $5,000). Dependent coverage will be available at 50% of the employee/member's amount.

Heart Attack Stroke End stage renal failure
Heart Transplant Coronary Bypass Surgery Major Organ transplant
Burns Coma Loss of sight
Alzheimer's Other Diseases Loss of hearing or speech

Enhance coverage with optional riders

  • Cancer Benefit Rider
  • Recurrent Critical Illness Benefit Rider
  • Accident Emergency Treatment Benefit Rider
  • Initial Hospitalization for Accidental Bodily Injury Benefit Rider
  • Wellness Benefit Rider
  • Intensive Care Benefit Rider
  • Quality of Life Benefit Rider
  • Occupational HIV Rider

Issue Ages

Employee and Spouse: Age 18 and older (through age 64 in CA)



Eligible Children: From birth through age 25

Participation Requirement

A minimum of 5* employee applications are required to establish a group.

Rates

A composite rate is available for Employer-Paid Coverage on all eligible employees.

Portability Option

If an employee loses eligibility for this insurance for any reason other than non-payment of premiums, coverage can be continued by paying the premiums directly to us within 31 days after the loss of eligibility. We will bill the employee directly at the same rate, once we receive notification to continue coverage.

Waiting Period

There is no waiting period.

Policy Information

Policy form series CPCI0400 and CCCI0400. Forms may vary. Coverage may not be available in all jurisdictions.

Disclosure

This is a brief summary of CriticalAssistance AdvanceSM, Critical Illness Insurance underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa. Limitations and exclusions apply. Refer to the policy, certificate and riders for complete details.

Posted 4:46 PM  View Comments

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