Valuable Critical Illness Coverage Now Available for Small Employers -
Monday, May 03, 2010
Source: Employee Benefit Advisor
When small employers offer their employees protection against the costs of serious illnesses, they’re usually doing it with a medical plan that provides income to cover doctor’s fees, hospital stays and some rehabilitation services. Offering coverage for non-medical expenses like lost wages of a spouse or caregiver, or travel to a treatment facility hasn’t been widely available.
But that’s about to change.
For years, critical illness insurance has paid a fixed-dollar benefit upon diagnosis of specified illnesses such as cancer, heart disease, stroke and organ-transplant surgery. This type of coverage is usually exclusively available to larger employers. But as of this month, Guardian has made it available to smaller companies, even those with only two employees.
“It became clear to us that this financial benefit is just as important to employers with as few as two employees, as it is for larger employers,” says Clancy Merrill, executive director of small group sales for The Guardian Life Insurance Company. “Brokers have been asking us to extend this product to their small group clients, and we have done so.”
To read the full article, click here.