Critical illness insurance helps people guard against the financial hardship of a serious health problem. The insurance provides lump sum payments, upon diagnosis of one of several specified catastrophic illnesses. These payments may be used to cover the costs of care or treatment, to replace lost income, or to address personal needs, such as transportation, childcare and other household expenses. Our Critical Illness is a gap protection product, providing a lump sum benefit to ease the financial burden that may result from a serious disease. It is not tied to any underlying medical expense, and pays independent of other coverage.
Key features include:
- Covered Conditions: The following conditions are covered at 100 percent: cancer, heart attack, stroke, as well as coma, loss of sight, organ transplant, paralysis, renal failure, and severe burns. Coronary artery bypass is covered at 25%.
- Dependent coverage: Spouse coverage is included at 50% and child coverage at 25%.
- Other benefit options: There are benefit options for an additional occurrence (of a different disease) and recurrence (of the same disease), as well as a health screening benefit. The benefit reduces to 50% at age 70. Portability is available for up to two years.
- Eligibility: Coverage is available to groups with a minimum of 10 lives. The insured individual must work at least 20-30 hours per week.
The product may be offered employer-funded, or employee-paid (voluntary), or a combination of the two. Coverage is offered on a guarantee issue basis, or on an accept/reject basis, based on four medical questions).
For additional information please review our Critical Illness summary.
State Approval Status
Benefits and range of options may vary by state. Premium will vary based on plan chosen.This policy is renewable at the option of the company. This is a limited policy.The Critical Illness product is filed as a Non-Participating Specified Disease policy in North Carolina. The Portability benefit is filed as Continuation of Coverage in Oregon. Beazley includes the issuing company of Beazley Insurance Company, Inc., 30 Batterson Park Rd, Farmington, CT 06032. Beazley is rated A by A.M. Best. For more information, visit http://www.beazley.com/accident&health. Administrative services are provided by HealthPlan Services (HPS).
Critical illness team
Head of Operations - US Accident & Health
Minneapolis, MN, USA
+1 952 656 firstname.lastname@example.org
Business Development Manager (AIP)
Atlanta, GA, USA
+1 770 351 email@example.com
Underwriting - Accident & Health Insurance USA
Minneapolis, MN, USA
+ 1 952 656 firstname.lastname@example.org
Business Development Executive
Dallas, TX, USA
+1 972 419 8011Jonathan.Sheedy@beazley.com