Critical Illness

Critical Illness insurance provides employees the opportunity to purchase a policy with coverage generally ranging from $10,000 to $50,000. If an insured employee is diagnosed with one of the specified covered illnesses (most common include cancer, heart attack, stroke and kidney failure) they would receive a lump sum payout on their policy.

The purpose of this insurance coverage and lump sum payment is to provide financial support at a time of crisis for things like a high deductible medical plan, out of pocket costs for transportation, child care or uncovered medical expenses such as an experimental clinical trial or medication. Generally there is no restriction on how the money is spent.