Critical Illness Insurance Can Offer More Benefits Than You Expect 

Critical illness insurance can provide a lifeline of relief for covered people who experience a critical illness diagnosis. With medical costs soaring and uncertain economic fluctuations, payable benefits from this valuable coverage can be the difference between paying off medical debt and staying afloat or drowning in nagging bills. However, diagnoses may not be the only payable benefits with critical illness coverage. Plans can boast an array of benefit options, creating greater value for covered employees and their families. 

Critical illness insurance 101 

If you are unfamiliar with the concept of critical illness insurance, the idea is simple: covered individuals and their dependents can receive a fixed benefit payment if they are diagnosed with an eligible critical illness or condition. Traditional critical illness plans provide payable benefits for a diagnosis of a heart attack, stroke, certain cancers, and more. For more detail, check out this example of how critical illness coverage works. 

Newer critical illness plans offer the same base coverage as traditional models but with expanded benefits that are focused on providing greater value to the insured. Robust critical illness benefits are becoming more and more valuable in the face of evolving societal trends, consumer behaviors, and ever-changing economic conditions. 

Some critical illness models feature greater flexibility in plan designs and benefit offerings, and this modularity can provide employers and brokers with more ways to design a personalized plan to accommodate the specific needs and budgets of any employee group. For example, some plans can offer benefits that help pay for the treatment of substance abuse or mental and nervous disorders. Such benefits can be offered through coverage riders that enhance the value of the coverage and give covered people more choices when seeking care. 

More choices create greater value 

Coverage riders are add-on benefits that can expand on base coverage. Employers often select these benefits to provide covered people with more health care choices and greater value for their premium dollars. 

Below are just a few of the critical illness rider benefits available to help employees protect their finances when faced with a medical challenge. 

Please note that every critical illness insurance plan may not offer the following benefits. Exclusions and limitations may differ from carrier to carrier, and state regulations and variations may apply. 

Critical illness rider benefits 

• Fixed Health Screening Services Rider Benefits (fixed amount) may be payable for the completion of an eligible health screening test or service, including chest X-ray, some cancer screenings, lipid panel tests, and more. 

• Variable Health Screening Services Rider Benefits (variable amount by category) may be payable for the completion of an eligible health screening test or service, including chest X-ray, some cancer screenings, lipid panel tests, and more. 

• Lifestyle Enhancement Rider Benefits may be payable for the completion of an eligible activity/program, such as tobacco/alcohol cessation, weight management, a timed physical activity event (running, cycling, rowing, swimming), or a financial wellness program. 

• Mental or Nervous Disorder Rider Benefits may be payable for confinement in a hospital or residential treatment facility for a mental or nervous disorder. 

• Substance Abuse Rider Benefits may be payable for confinement in a hospital or residential treatment facility for substance abuse treatment. 

• Skin Cancer Rider Benefits may be payable for a physician’s diagnosis of basal cell carcinoma or squamous cell carcinoma. 

• Second Evaluation, Transportation and Lodging Rider 
  • Benefits may be payable for a second evaluation from a different physician following initial treatment. 
  • Airfare/ground travel for non-local transportation.
  • Lodging due to non-local treatment; and lodging and transportation costs for a companion to accompany the covered person during treatment. 

• Specified Chronic Illness Rider Benefits may be payable for diagnosis of a specified chronic illness that results in the inability to perform at least two of six specific activities of daily living. 

• Specified Chronic Illness and Accidental Injury Rider 
  • Benefits may be payable for diagnosis of a specified chronic illness that results in the inability to perform at least two of six specific activities of daily living.  
  • Diagnosis of an injury caused by a covered accident and the inability to perform two of six specific activities of daily living. 

• Specified Condition and Infectious Disease Rider 
  • Benefits may be payable for diagnosis of a specified condition or infectious disease. 
  • Diagnosis of an eligible condition or disease, such as Acute Respiratory Distress Syndrome (ARDS), Cerebral Palsy, or multiple sclerosis by a qualified physician. 

• Optional childhood illness benefits Optional benefits aren’t always provided through riders; some additional benefits are available through the critical illness plan itself. For example, some critical illness products include expanded coverage for several common childhood diseases or defects, including: 
  • Cerebral Palsy 
  • Cleft Lip/Palate 
  • Congenital Heart Disease 
  • Cystic Fibrosis 
  • Type 1 Diabetes 
  • Down Syndrome 
  • Muscular Dystrophy 
  • Spina Bifida 
  • Structural Congenital Defect 
  • Just like with coverage riders, the employer may choose these optional childhood benefits to provide greater value to their employees’ critical illness coverage. 

Critical illness insurance for your employees 

Affordable group rates, add-on rider coverage, and optional benefits make group critical illness insurance a valuable protection option for employees and their families when faced with a medical challenge. 

Check out Allstate Benefits and their critical illness insurance to learn more about what these benefits can do for your employees.