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What Does a Critical Illness Insurance Policy Cover?

doctor and young patient covered by a critical illness insurance policy

What is a critical illness insurance policy and what does critical illness insurance cover? It’s an employee benefit that can help you attract and retain top talent, and can make a real difference for your employees' financial security should they suffer a critical illness. 

 

With advances in medical science, we now face the possibility of suffering a serious illness such as a heart attack, cancer, or stroke and surviving for many more years.

Solid protection for your employees

Who do you know who has suffered a serious health problem and how has it affected their life and their family? 

 

Many people who recover from a critical illness face serious financial difficulties. While most health care plans provide some benefits for hospital and medical expenses arising from critical illnesses, there may be other expenses not covered such as copayments and experimental treatments.

Focus on recovery

Today's increasing medical copays and deductibles, private nursing costs, a reduction or loss of income, child care, transportation to treatment centers, experimental treatments, and childcare expenses are just some of the reasons a critical illness could mean serious financial hardship. 

Fortunately, you can offer your employees an affordable solution that can help them focus on recovery, not finances…a Critical Illness Insurance policy from Guardian.

Your employees will be covered for over 30 major illnesses including:

  • Cancer
  • Heart attack
  • Stroke
  • Major organ transplant
  • End stage renal failure
  • Coronary artery bypass graft (CABG)
  • Arteriosclerosis
  • Parkinson's
  • Alzheimer's
  • MS
  • ALS
  • Severe burns
  • Paralysis

Coverage for the whole family

Children are covered for a wide range of illnesses and conditions including, Cerebral Palsy, Cleft Lip/Palet, Club Foot, Cystic Fibrosis, Down’s Syndrome, Muscular Dystrophy, Spina Bifida, Type 1 Diabetes, and others. There’s no additional cost, and no health questions are required.

Pays for first and second occurrences

Employees are covered for the first and second occurrences of a critical illness. For example, if an insured person experiences a stroke and later has another stroke, they’ll be covered and they’ll receive a second occurrence lump-sum payment to use however they wish.

New feature: occurrences are counted from the date the policy starts

 

Guardian Critical Illness Insurance pays the first occurrence benefit even if the insured person had an occurrence prior to being insured by Guardian. Other providers may not pay a first occurrence benefit if you had a critical illness prior to the policy. They would consider this the second occurrence, and it would not be covered.

No lifetime maximum
Benefits are payable for multiple conditions.

Affordable group rates
As an employer, you can give your employees an opportunity to purchase coverage at rates that are much lower than they can get on their own. 

100% portable
Employees can continue coverage even if their employment has ended.

The right options for your employees:

  • Choose up to $50,000 for first occurrence. A Guardian Critical Illness Insurance policy allows you customize the critical illness payment amount your employees receive (up to $50,000) according to your company's needs. Your employees can select from incremental amounts or specific amounts that you select.
  • You can include a hospital coverage benefit for other illness or injuries. As an additional rider, you can select to include coverage that pays up to $500 per day (10 days per year) if the insured employee is in the hospital for any condition other than a listed critical illness.
  • Available wellness rider. Encourage your employees to stay healthy by including a wellness benefit payment of $25 - $100 per year when they complete certain routine wellness procedures or screenings, including completion of a smoking-cessation or weight-loss program.
  • Available caregiver rider. To help defray some of the cost of being a caregiver, you can include a rider that will pay benefits if an employee's parent is diagnosed with Alzheimer's.
  • Optional occupational HIV/hepatitis coverage. Covers the first of either illness at 100%, no recurrence.
  • Optional lump sum automatic increase. Benefit increases 5% each of the first five years of coverage with no premium increase.
  • Already have a cancer policy in place? You can choose to exclude coverage for cancer and alleviate redundant coverage for your employees.
  • Coverage is guaranteed for employers with 25+ employees. No medical questions. No medical exams.

We make it easy to enroll

Your dedicated enrollment team provides strategic communications, education and decision support tools to help you introduce the plan and help your employees enroll. We can provide seamless integration with any existing systems and processes you have in place, or we can create a complete solution for all your enrollment needs.

Contact your Broker today to get the right coverage for your employees

We'll work with you and your broker to design a critical illness insurance solution for your company.

Overview

Why Offer Guardian Critical Illness Insurance?
What is Critical Illness Insurance?
What Does a Critical Illness Insurance Policy Cover?
Critical Illness Insurance Quotes from Guardian
Critical Illness Insurance Rates: Worth It?

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