Group Critical Illness Insurance

Critical Illness insurance provides a lump-sum benefit to help ease the financial burden that may result from one of 10 covered critical conditions. Note: Critical Illness insurance does not replace major medical health insurance. It is not tied to underlying medical expenses, and pays out a benefit independently of other coverage.

Consider these stats:

40% of people are at risk of developing cancer in their lifetime1
1 in every 3 deaths are caused by cardiovascular disease2
Every 40 seconds, someone in the United States has a stroke3
Cancer, heart attacks, and strokes can impact not only your health, but also your finances.

The need

Your employees need coverage that helps provide financial relief in the event of a covered critical illness diagnosis.

The solution

Critical Illness insurance pays a lump-sum benefit directly to the insured
upon diagnosis of these 10 covered conditions:

  • Cancer
  • Stroke
  • Coma
  • Organ transplant
  • Renal failure
  • Heart attack
  • Coronary artery bypass (25% of benefit)
  • Loss of sight
  • Paralysis
  • Severe burn

A Critical Illness insurance lump-sum benefit payment can be used to help pay for an employee’s expenses such as care, treatment, transportation, insurance deductibles, coinsurance payments, and special medical needs and equipment. It can even be used for household expenses like mortgage payments, childcare, and groceries, or to replace lost income, savings, or retirement funds.

Critical Illness insurance can help meet your employees' needs.

Offer Critical Illness insurance alongside other benefits to help relieve some of the financial burden that may occur in the event of a covered critical illness diagnosis.

Help retain top talent and reduce turnover by offering benefits that help employees plan for the unexpected.

Benefits can be customized to meet the specific needs of different employee populations. Dependent coverage is available.

Critical Illness Insurance Rider

A Critical Illness rider can also be offered as part of a robust voluntary benefit program in a single certificate, or alongside hospital indemnity insurance benefits and other riders, such as Accident Expense or Outpatient Cancer riders.

Source:

1. American Cancer Society, Cancer Facts & Figures 2021, 2021

2. MillionHearts.hhs.gov, Cost & Consequences, 2021

3. CDC, Stroke Facts, 2021

Insurance is underwritten by Beazley Insurance Company, Inc., 30 Batterson Park Road, Farmington, Connecticut, 06032. Beazley is rated A by A.M. Best. Beazley is licensed in all 50 states and the District of Columbia. CA License # 2868-8. Critical Illness insurance is offered under Policy Form Series AHCIC0001. This is a limited benefit policy. The Critical Illness product is filed as a Non-Participating Specified Disease policy in North Carolina. The Portability benefit is filed as Continuation of Coverage in Oregon. Pre-existing condition limitations may apply. Coverage is not available in all states. Benefits may vary by state. Premium will vary based on the plan chosen. A waiting period for late entrants may apply. This policy is renewable at the option of Beazley. Refer to the Master Policy and Certificate for all terms, conditions, exclusions, and limitations. Beazley uses the services of third party administrators.

Globe Life And Accident Insurance Company manages and reinsures the Beazley Benefits program.