More people today are surviving critical illnesses like cancer, heart disease and stroke. But many of the costs to diagnose and treat critical illnesses aren’t paid by major medical insurance plans.
Washington National Insurance Company offers a variety of supplemental insurance options to help more Americans access and afford medical care.
Benefiting your employees and your business
Help your employees protect their family, finances and future
Worksite Critical Illness insurance can provide valuable lump-sum benefits when your employees are treated for common critical illnesses. This insurance protection is especially important when you consider the risks of developing certain critical illnesses, and the costs to treat them.
THE RISKS your employees face
THE COSTS of critical illnesses
- Men have nearly a 1-in-2 lifetime risk of developing cancer.
- Women have a 1-in-3 lifetime cancer risk.
- About 82.6 million Americans have one or more types of cardiovascular disease.
- This year, more than 1.2 million Americans will suffer a new or recurrent heart attack.
- More than 16,843 kidney transplants were performed in the U.S. in 2010.
- 2,333 heart transplants were performed in the U.S. in 2010.
- The total cost of cardiovascular diseases and stroke is estimated at $297.7 billion.
- The total cost of cancer is estimated at $226.8 billion.
- About 62% of all personal bankruptcies are attributed in part to medical problems.
- CANCER-ONLY coverage
- Critical illness WITHOUT CANCER coverage
- Critical illness WITH CANCER coverage
Straightforward design and clear-cut benefits to support your employees and your business
- Benefit amounts up to $75,000 (in $5,000 increments)
- Guaranteed issue amounts up to $20,000
- First diagnosis and recurrence benefits in all Health Diagnosis Categories (see plan design features for complete details)
- Benefits for wellness care and screening
- Coverage for the entire family
Worksite Critical Illness insurance offers your business simple yet flexible options. As the employer, you can select one of three coverage levels to present to employees. Then, your employees can choose the benefit amount that suits their needs and budget.
Plan design features (See the policy for additional details.)
BENEFITS ARE PAID FOR DIAGNOSES IN THREE HEALTH DIAGNOSIS CATEGORIES (HDCs):
- HDC 1: Heart and stroke
- HDC 2: Major organ transplant, end-stage renal failure and loss of sight
- HDC 3: Cancer
With this design, employees can keep their insurance in place to cover a future critical illness in the same HDC or a different one.
Lump-sum benefits range from $5,000 to $75,000 in $5,000 increments. The full benefit amount is payable upon first diagnosis of a covered critical illness in each HDC.
If the insured receives a subsequent diagnosis of a specified critical illness, he or she receives a recurrence benefit equal to 50% of the lump-sum benefit.
COVERAGE FOR SPOUSE AND CHILDREN
Employees can elect individual coverage for themselves, or they can purchase coverage for themselves and their spouse. The spousal benefit is 50% of the face value of the employee’s benefit amount. Children are automatically covered at 10% of the employee’s benefit amount.
Employees who leave their place of employment may keep, or “port,” their coverage with no change in premium rates or benefit levels. Coverage must be in force for 12 months before portability is available.
SECTION 125 COMPATIBILITY
Worksite Critical Illness insurance is compatible with Section 125 cafeteria plans.
PRE-EXISTING CONDITIONS LIMITATION
For the first 12 months after the coverage effective date, pre-existing conditions are excluded from benefits.