Don't leave everything to chance; keep yourself protected with an insurance
With millions of employees now in high-deductible health plans, they are even more susceptible to high out-of-pocket costs. Offering the Critical Illness Protection Plan gives you and your employees added relief from the financial burdens and stress that can come with a major illness.
Critical Illness Insurance (CI) provides a financial, lump-sum benefit to employees upon diagnosis of a covered illness. These covered illnesses are typically very severe and likely to render the affected person incapable of working. Because of the financial strain these illnesses can place on individuals and families, critical illness insurance is designed to help ill employees pay the mortgage, seek experimental treatment or handle unexpected medical expenses.
Group critical illness insurance doesn’t replace the health insurance; it complements it. While health insurance provides payments to doctors, hospitals, and specialists, critical illness insurance provides money to employee directly, at a time when they need it most.
Retention & Recruitment
Most people want to work at organizations where they feel valued when they knock a project out of the park or meet a tight deadline. But they also want to know their company cares about them on a personal level. If they don’t feel valued, they might start losing interest.
Since many organizations don’t offer vision benefits as part of their healthcare package, providing them at your company can give you a leg up in recruiting and retention efforts. Prospective and current team members will see you’re willing to go the extra mile for them, giving you a better sales pitch for promising new talent and potentially making valuable employees more likely to stick around for the long haul.
Commitment towards employees
With a vast array of voluntary benefits on the market and a number of companies willing and eager to sell them, people are understandably worried about making the right choice.
With their plans being offered at the workplace, employees know that their employer has vetted the carrier and considered the available benefits. Voluntary insurance also pays financial benefits regardless of any other insurance coverage employees have in place including policies available through government health care exchanges.
Employee assistance
Every person has a bad or an emotional phase because of various reasons. There might be instances where someone from their family needs medical help or care.
You should assist employees and their families in dealing with the physical, emotional and financial impact of critical illness, showing other employees how much you care during their time of need.
Modifications to office
You may need to make a wheelchair ramp at your office because of their medical conditions or a disability due to some disease.
Critical illness cover the costs of nursing care, adapting the home to accommodate a new disability or other essential needs.
Modifications to office
You may need to make a wheelchair ramp at your office because of their medical conditions or a disability due to some disease.
Critical illness cover the costs of nursing care, adapting the home to accommodate a new disability or other essential needs.
Group critical illness insurance policies are designed to cover a wide variety of illnesses. These may include:
Many people seek to purchase critical illness insurance through their employer. It is common for employers to offer it as a voluntary benefit.
Companies have been keen to add these plans because they recognize employees are worried about high out-of-pocket expenses with a high-deductible plan. Unlike other health care benefits, workers generally bear the entire cost of critical illness plans. That makes it a money saver for companies, as well as workers.
Critical illness insurance can be used for a variety of things, such as:
Simply put, critical illness insurance can alleviate financial worry in the event an individual becomes too sick to work.
Insurers will want to know the below information for everyone the policy will cover before offering Critical Illness quotes:
A group critical illness insurance policy is a benefit your employees may want to take advantage of if it’s offered. We can help you in navigating through multiple option and deciding a suitable plan for your employees.
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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