Other conditions may be covered as well; some insurers will cover up to 18 to 25 illnesses! This may include:
Generally, the illness must be considered life-threatening and some insurers dictate there must be permanent damage or life-changing impact, but this varies. Each insurer is different and one will cover one type of cancer while another will not. That’s why it’s critical to work with a critical illness insurance broker here at Rogers to ensure you’re getting the best policy possible for your company.
Keep in mind that pre-existing conditions are not usually covered. There is also generally a 30 day waiting period after the coverage is purchased where your staff won’t be protected if they’re diagnosed with one of these critical illnesses.
It’s also important to note that the employee must survive this illness. If they pass away, they would not be covered. (A life insurance policy would be needed to provide financial help for their family.) Generally, the individual must survive for at least 30 days after the onset or diagnosis of the critical illness to receive critical illness insurance benefits. Again, this time period may vary by the insurer so it’s critical to understand the policy.