A serious illness can be frightening enough without worrying about money. Yet most employees would find it financially challenging were they suddenly forced to take time off work. Would they need to hire a caregiver? What about travel for treatment—or medication and medical supplies not covered by the health plan? The odds of surviving a critical illness have never been better, but the road to recovery can be surprisingly costly.
Disability benefits help—typically covering up to two thirds of pay. But it’s often not enough. Group CI can fill the gap and relieve some of the stress, so employees can stay focused on recovery.
With three product options to choose from, Empire Life CI offers lots of flexibility, so you can protect your employees your way.
Is Critical Illness insurance for you?
Critical illness benefits may be the best solution for you if:
You want assurance that your employees and their dependants are able to pay for unforeseen medical costs, in the event of a critical illness.
It’s important that your benefits are competitive in the marketplace.
How Critical illness insurance works
Unlike life insurance, critical illness insurance is designed as an aid for the living. It provides a lump sum, non-taxable payment employees can spend as they wish. It is not dependent on return to work or making a full recovery. In order to receive payment, employees must be diagnosed with a covered condition and meet the survival period.
Key features and benefits
- The Empire Life Group CI portfolio of products offers lots of flexibility, so you can add the type and level of protection you want.
- Coverage of 31 health conditions with our Traditional and Enhanced CI. The four conditions covered by Vital Assist CI provide solid protection against the conditions that make up close to 90% of CI claims.
- Coverage for groups with as few as three people (when CI is taken, there must be a minimum of three people in the group or class).
- Face amount options up to $250,000 (and as much as $500,000 when combined with employee paid Optional CI).
- Partial, multiple, and cancer recurrence benefits, available with Enhanced CI, let you add an extra layer of protection for all employees or just selected classes.
- Each one of our critical illness products comes with access to the Health Concierge Service, provided by MedExtra Inc. Designed to complement critical illness insurance, the Health Concierge Service helps employees and their families through a difficult time. It can accelerate the diagnosis, help establish the best treatment plan, answer questions, and be the liaison between hospital medical staff and the employee and family. It also provides emotional support throughout the journey.
- For new customers, our combined medical underwriting form means that employees complete one streamlined form for life insurance, LTD, and CI coverage.
Get Empire Life Critical illness insurance working for you
To learn more about how Group Critical illness insurance can help you build a healthier business, please contact your group benefits advisor.