While most employees have health insurance, sometimes, that coverage isn’t enough. Employees routinely face co-pays and high deductibles, leaving them with significant gaps in their health coverage. When an employee finds themselves suffering from a severe or critical illness such as cancer, the financial burden can be intense. Due to the increasing gaps in health coverage, critical illness insurance covers employees when they become severely ill. Critical illness coverage is an excellent supplemental insurance benefit that provides employees with essential benefits that can really help their families out in a crucial time of need. Here is everything you wanted to know about critical illness insurance and how it can benefit your employees and their families.
How Does Critical Illness Insurance Work?
Critical illness insurance safeguards your employees against disaster. Designed to pay an after-tax benefit, critical illness insurance provides a lump sum to the insured to assist with any out-of-pocket medical expenses not covered by the employee’s health insurance. When someone is diagnosed with a severe medical condition, it can be emotionally and financially stressful for everyone involved. Critical illness insurance will always be there to help individuals and families in their most significant time of need. The most common types of critical illnesses that are covered are cancer, heart attacks, and strokes. However, other critical illnesses may include things like an organ transplant, specific cardiac procedures, and kidney failure or paralysis.
Critical Illness Insurance And Employers
Employers are continually looking for ways to keep their employees happy and satisfied. With health coverage frequently changing, having a supplemental critical illness insurance option available to all employees is a great perk that many employees would be interested in having. Vendors have been adding critical illness insurance into their bundles. Employees increasingly request critical illness insurance as a supplemental benefit from their employers. By adding critical illness insurance into the mix of supplemental and voluntary benefits offered by your company, you can rest assured that your employees will be incredibly grateful.
Get Your Supplemental Critical Illness Insurance Policies With The MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. With The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet the needs of all your employees. With over 17 years of experience, The MWE Partnerships is your one-stop shop for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! Also, be sure to like our Facebook page, follow us on Twitter, LinkedIn, and Google+ for all the latest voluntary benefit news!