Group Critical Illness Insurance
Recover from a serious illness on your own terms.
This plan is designed to help provide financial assistance so you can focus on what matters most – recovering from a serious illness on your terms.
Group Critical Illness is a living benefit that provides a lump sum amount of cash if you get one of the covered conditions. The top three conditions for payments are life-threatening cancer, heart attack and stroke. Coverage can include just the big three — or expand into the two-dozen range.
The amount of payment depends on the coverage purchased. Group Critical Illness offers coverage regardless of pre-existing conditions, with some conditional terms. The lump sum payment can help reduce the financial stress caused by the critical illness and buy time to focus on your health.
For more plan information, call us Toll-free at 1-866-936-1548 and we can discuss your wants and needs. Or...
What is extended health care?Extended health care can be grouped as whatever the government health plans do not cover might be covered in the group health plans subject to the coverage decisions. Typically items like prescription drugs, chiropractors, massage therapists and physiotherapists and more paramedical providers, Vision care, out of country emergency insurance and a variety of covered items are included in extended health care.
What kind of Extended Group Health plan is best?There are multiple plan types in group health, insured experience rated, insured pooled and self-insured. All plan types can be good; it just depends on your situation.
Are extended health benefits a taxable benefit?Extended health benefits are a non-taxable benefit and, due to this tax treatment ,the market has developed around employers providing coverage to its employees. The plans available in the market are generally available to employers at lower prices and better terms than an employee could buy for themselves.
How does the claims process work?Claims are progressing faster and faster. From pay-direct drug cards with instant payment at point of sale; online and mobile app claims submission; direct service provider submission; the pace of claim reimbursement is increasing all the time. The percentage paid on a claim is typically a choice made in the plan design by the plan sponsor.
Who pays the claims?The insurer or service provider pays the claims.
What is a health spending account?A health spending account is a set amount of money which can be used to pay for CRA eligible medical expenses.