Cancer and Critical Illness
Medical advances have resulted in increased survival rates for specified disease. But with these advances come increased health care costs. Lengthy, expensive recovery periods can mean the loss of personal wages and an employee's ability to pay for care and treatment. Even with the most generous employer-provided medical and disability insurance plans, workers need additional resources to help meet their financial needs.
Colonial Life's individual Cancer Insurance pays lump-sum benefits that can help employees pay out-of-pocket expenses resulting from cancer treatment. Just as importantly, this product also pays an annual cancer-screening tests/wellness benefit to encourage employees to have regular screenings, improving their chance of survival if they do develop cancer. And you can select from several levels and plan options to help meet the needs of a diverse employee base.
Round out your employees' benefits package with individual Critical Illness Insurance plans that complement major medical coverage by helping employees pay the direct and indirect costs associated with a specified critical illness. An annual health screening benefit is also available with this product. Colonial Life's Critical Illness product does not require the insured to survive a designated period prior to paying the lump-sum benefits.
And Colonial Life's Cancer and Critical Illness products offer the inherent advantages of individual products on a group platform. So you have the underwriting and and pricing advantages of a group product combined with the benefits flexibility, published rates and limited portability of an individual product, all available at guaranteed issue as long as certain requirements are met.
See one of Colonial Life's benefits guys for more details.
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