Chances are you know someone affected by a critical illness such as cancer, heart attack or stroke. Facing such a diagnosis can be frightening and stressful. Critical Illness Insurance will help relieve the financial burden that also comes with an unexpected illness. The insurance pays a lump-sum cash benefit when a covered person is diagnosed with a covered illness.
The benefits can be used how the insured person sees fit: whether it be to help pay for non-covered medical expenses such as making medical-related home alterations; to seek treatment at a specialty care facility; to participate in clinical trials; and much more. Or, you can use the cash benefit to help cover other payments such as mortgage or rent, utility bills, child care, hospital parking and/or other daily living expenses. Knowing that the cash benefit can help cover some of the out-of-pocket expenses related to an unexpected critical illness helps receive a lot of the stress.
Comprehensive Coverage includes:
Heart attack, Stroke, Major Organ Failure (Transplant or Waiting List), Kidney Failure, Carcinoma in Situ, Invasive Cancer, Alzheimer’s Disease, Parkinson’s Disease, Coronary Artery Bypass Surgery, Multiple Sclerosis, Coma, Paralysis, Deafness, Blindness, Aortic Surgery, Benign Brain Tumor, Severe Burns, Loss of Speech, and Waiver of Premium (Employee/Member only).
There are many advantages to this unique offer for groups. For only a few dollars a month, they can protect themselves and their families in the event of a critical illness. There is also the option to choose a set amount payment, tax free (i.e. $10,000, $15,000, $20,000 or more).
Other Product Information:
- No pre-existing condition clause.*
- No minimum survival period.
- Coverage is guaranteed issue (meaning there are NO medical exams or tests to take) up to $30,000.
- Coverage is fully portable (meaning you can take it with you) if you leave your place of employment.
- No benefit waiting periods, except where there is a recurrence of cancer and length of coma.
- You can add a rider to cover your spouse/common-law for an additional cost.
- Dependent children receive 50% of your chosen coverage at no additional cost.
- Multiple events are payable (separated by 90 days).
To review our CI product offer further, please contact us or learn more at allstatebenefits.ca
*NOTES: The employee is currently undergoing treatment for a critical illness (such as cancer), or has been diagnosed and will be starting treatment during the enrolment period. In order to receive a CI benefit payment, you must be cancer-free or treatment-free for 12 consecutive months when enrolling. However, employees that have had a treated critical illness before enrolment are eligible for immediate coverage. For example: “John” had a heart attack two years ago. He is on regular prescriptions and signs up for the CI plan. Six months later, “John” has another heart attack. The critical illness claim will be payable!
