Assumption Life is offering a new Critical Illness Insurance solution to groups
6/24/2019 12:00:00 AM
Moncton, June 24, 2019 - Assumption Life is happy to be offering a new Critical Illness Insurance solution to groups:
High Severity Critical Illness Insurance.
High Severity Critical Illness Insurance is offered exclusively to Assumption Life's Group Insurance clients. It can provide employees with a more affordable and accessible solution, while offering financial security to those whose condition has progressed to an advanced stage causing significant financial hardship.
''Taking care of employees is so important, but we also understand that affordability is a key factor for employers. That's why we are very excited to offer this exclusive alternative to groups that could mean up to 60% in savings compared to the traditional Critical Illness Insurance,'' says Rachel Comeau, Director, Group Network and Solutions.
Covered conditions include:
- Critical Stroke
- Late Stage Cancer
- End Stage Kidney Failure
- End Stage Respiratory Failure
- End Stage Liver Failure
- Heart Attack Resulting in End Stage Heart Failure
- Loss of Independent Existence
- Severe Dementia, including Alzheimer’s Disease
- Terminal Illness
If diagnosed with one of the 9 conditions listed above, the insured would receive a tax-free lump sum to help cover expenses, such as unpaid sick leave, travel for treatment, palliative or long-term care, and any treatment not covered by health insurance.
Coverage amounts for participant
• 1, 1.5, 2, 2.5 or 3x the annual salary; in units of $10,000, up to a maximum of $250,000
Dependent coverage
• Spouse only: Maximum coverage of $50,000