supplementalbenefits.com

Critical Illness (also known as Specified Disease Insurance Benefits)

Most benefits for critical Illness are paid as a lump sum!

Critical Illness insurance contract provides coverage that complements an employee’s group health insurance coverage paying for both direct and indirect costs associated with Critical Illness Insurance.

Most companies that sell critical illness insurance, allow coverage for the employee and spouse and some are introducing coverage for the entire family. Most policies are guaranteed renewable until the full benefit is paid. Some group contract will reinstate the full benefit after the full benefit has been paid, but will only pay for the diseases different than the one’s that were previously paid full claims .

Many insurance companies have a waiting period and will not pay claims for the first 30(differs between insurance companies and states) days.

Like most supplemental benefits these policies are portable.

Below are a list of the diseases covered by critical illness insurance contracts. coverage varies by state and Insurance company.

• Heart Attack
• Stroke
• Major Organ Transplant
• Cancer
• Carcinoma in situ (available if cancer coverage is elected and only paid at 25% of face value of the contract).
• Coronary Artery Disease (usually only paid once per contract)
• Blindness
• Occupational HIV
• Paralysis of two or more Limbs
• ALS (Lou Gehrigs Disease)
• Muscular Dystrophy
• Multiple Sclersis
• Tetanus
• Sickle Cell Anemia
• Epidemic Cerebrospinal Meningitis
• Scarlet Fever
• Smallpox
• Encephalitis
• Cancer-is usually covered by adding as a rider to a critical illness insurance contract.

No benefits will be payable for the Covered Person's Pre-Existing Conditions. They are defined as a disease that was positively diagnosed within ten years(the number of years varies by state and insurance company(prior to the Covered Person's Effective Date of Coverage under a Policy).