Just about everyone knows someone who has suffered from a critical illness; young, old, middle-aged, it doesn’t matter. Family members and friends have experienced strokes, heart attacks, or cancer. Luckily with today’s medical advances, many survive and can head back to work after recovery. However, expensive healthcare costs and being unable to work for extended periods of time can lead to financial stress during an already stressful time. Health insurance can cover many things but there are still deductibles and other out-of-pocket expenses that creep up.
Critical illness insurance gives employers an additional benefit they can offer their employees, providing peace of mind when life gives out lemons. Employed professionals are learning the value of having extra coverage during serious times. You can provide this added policy to your current benefits package when you speak to the experienced brokers at Executive Planning Group (EPG).
4 Reasons to Offer Critical Illness Insurance
When your best assets go home each night, it is imperative that you offer a benefits package that not only entices new help but keeps your employees loyal. Considering that one bout with a serious illness can bankrupt a family, critical illness insurance coverage can be invaluable. Here are a few additional reasons to offer this benefit:
- Complements Other Benefits: This policy provides extra protection during times of serious illness that regular health insurance does not. It also provides employees options for medical care as they will have funds available to cover additional procedures.
- Pays Out in a Lump Sum: If an employee becomes ill from a covered illness, they will receive a one-time, lump sum upon approval of the claim.
- Can be Used Any Way Needed or Wanted: There are no restrictions on how the money is spent. Your employee can use the funds to pay bills, seek treatment, or buy medical equipment.
- Funds Are Paid Even if They Fully Recover: Upon diagnosis of a covered illness, your employee can receive funds. It does not always matter if they make a full recovery or have health insurance. The policy is likely to still pay out.
- Several illnesses may be covered with this type of policy, including:
- Heart Attack
- Major Organ Transplant
- Renal Failure
- Coronary Artery Bypass
- Coronary Angioplasty
What better benefit can you provide your employees than a policy that helps them protect their family and financial wellbeing?
Consult with an Experienced Critical Illness Insurance Broker Today
Give your employees peace of mind with critical illness insurance. The team at the Executive Planning Group (EPG) is here to help you determine the best plans for your employees and your company. We listen to your needs and utilize an integrated approach to help you achieve your business goals. Discover the value of our services by contacting us today.
Give us a call at 601-982-3000 or request a quote online for financial planning services in Jackson, Mississippi.
Disclaimer: Securities Offered Through Valmark Securities, Inc. Investment Advisory Services Offered Through Valmark Advisers, Inc.
Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.