A Basic Guide to Critical Illness Insurance for Mississippi Employers

Good employers understand the necessity of offering benefits that support their employees and families. While you may start with the health, dental, and life insurance options, there are many other types of coverage to consider. For example, short-term disability policies aid those who become disabled through an accident or illness. Long-term care insurance provides ongoing care and services because of physical limitations or cognitive difficulties. One vital piece of the protection puzzle is critical care insurance. When you understand what it is and how it protects your employees, you will want to add that to your benefits package.

Understanding How Critical Illness Impacts Your Team

As your company grows and serves its customers, it is easy to overlook what one nasty illness can do to your valuable team members. If one is out, the others have to pick up the slack. When the ill person recovers, they will have many things on their mind. Most of which will probably be financial. Here are a couple of ways a critical illness affects your employees:

  • They may expend their health care insurance. For example, a heart attack can leave your employee financially burdened. Healthcare insurance does have its limits. When annual benefit amounts have been reached, they will have to pull from savings. If they don’t have savings, then what? This policy can help bridge the gap and keep them from financial ruin.
  • They may not have funds to cover the mortgage, rent, or other living expenses. Handling the aftermath of cancer or other major illnesses also hits your team member’s finances. They will worry about paying their mortgage and having a place to live on top of the mounting medical bills. Critical illness insurance helps put their mind at ease. They can make their house payments and focus on getting well again.

What Critical Illness Insurance Helps Cover

This policy type is often offered on a voluntary basis. It is cost-effective and easily complements medical insurance. The affected person receives a lump sum payout to be used as needed for medical and non-medical expenses. They will even receive funds if they make a full recovery. Most policies cover the following:

  1. Heart attack
  2. Stroke
  3. Kidney failure
  4. Cancer
  5. Multiple sclerosis
  6. Total and/or permanent blindness or deafness
  7. Parkinson’s Disease
  8. Chronic lung or liver disease
  9. Encephalitis
  10. Terminal illness
  11. Major Organ Transplant
  12. Coronary Artery Bypass
  13. Coronary Angioplasty
  14. Paralysis

Protect Your Employees with Critical Illness Insurance from EPG Benefits

Give your team the best options to protect themselves and their families. Talk with a dependable broker at the Executive Planning Group. We are happy to sit down and determine the best course of action for your company and employees. We offer various services and products to ensure all parties have their insurance and planning needs covered. In short, we utilize an integrated approach to your company’s goals. Discover more about our services when you contact us today or request a quote online.

Call us at 601-982-3000 to see how you can offer critical illness insurance for your employees in Mississippi.

Disclaimer: Securities offered through Valmark Securities, Inc. Member FINRASIPC. Investment advisory services offered through Valmark Advisers, Inc., an SEC-registered investment advisor. Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

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