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Daedalus Group
What is Critical Illness Insurance
Critical illness insurance (CI) is coverage that can help employees with life-altering illnesses like cancer, stroke, heart attack and dementia. It is often given as a one-time lump sum payment to a plan member which they can use for rehabilitation, treatment options, or other financial responsibilities that arise. The benefit does not relate to short-term, long-term, or life insurance benefits.
Where and why does critical illness insurance fit in to employee compensation
Critical illness insurance is a low-cost way to increase the value of your benefit plan. By offering CI, you allow your plan members to focus on what matters most – their recovery. They can benefit from group rates and pay premium through payroll deductions. This means they don’t have to worry about policy or payment renewals.
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