Your best health care system resource on the net


 

integrail.net keyword stats



Most current MSN search phrases:

review KELP AND THE THYROID
nursing dewalt batteries
healthcare  

Group Critical Illness Coverage - Introduction

Group critical illness insurance can beinsured's health history and their family
viewed as a combination of group benefits andhealth history. Many individuals may have
critical illness policies. This type ofproblems qualifying for coverage based on
benefit is seen as an excellent complement totheir age or their previous medical history
Group life schemes and can provide a verymay preclude or restrict coverage. On the
attractive  solution  for  employees.other hand, group critical illness coverage
is guaranteed and can provided at a
Critical illness insurance was firstdiscounted premium - in many instances the
developed by Dr. Marius Barnard in 1983 as ansavings can be as much as 30 percent below
effort to offset the financial burdenthat  of  an  individual  policy.
associated with developing a critical
illness. Recent medical advances have createdAs a bonus, some group critical illness plans
an increased need for critical illnessoffer portable coverage. This feature alone
insurance; more and more individuals areis one of the highlights of these policy
surviving life altering illnesses, such astypes. It allows employees who leave their
cancer, stroke or heart attack. But theseemployers to continue their coverage - and
advances in modern medicine have come at aretain  their  group  discounted  premium.
cost - the increased survival rate has
strained the Canadian health care system.The amount of coverage a person may qualify
This, coupled with the fact that many peoplefor depends two main factors: the insurance
are naturally seeking extra services andcarrier and the size of the group. From an
non-traditional forms of treatment, has ledemployers standpoint this can be a major
to a dramatic rise in cost of care and thuslever in attracting and keeping key
increasing  the need for additional coverage.employees. Critical illness coverage bridges
the gap found in most traditional employee
As mentioned above, cost of care in manybenefit plans. An example may be a senior
instances can be prohibitive and exceeds whatexecutive whose family health history may
is available in traditional group claims.have precluded him from individual critical
That's where critical illness insurance comesillness coverage and his group disability
in - it pays out a lump sum tax free paymentplan only covers a fraction of his income. A
upon diagnosis of a critical illness. Thegroup critical illness plan may provide the
money can be used for any purposes - to coverleverage needed to lure him from another
experimental treatment, provide daily livingcompany or to keep him with his present
assistance or depending on the size of theemployer.
policy seek treatment out of country just to
list  a  few  examples.A key advantage to the employee is the
potential portability of the coverage. An
While the understanding the need for criticalemployee retiring at 60 would be faced
illness is easy, it can get extraordinalyextortionate premiums on an individual
difficult to obtain the coverage. Individualcritical illness policy and the coverage may
applications for critical illness coveragenot even be available due to health issues.
are much more closely scrutinized than lifeHowever, if the same employee was enrolled in
insurance applications. This isa group critical illness plan the coverage
self-explanatory - an average Canadian ismay be portable and the rates would be based
much more likely to face a critical illnesson the employee's age at the time of
than death before the age of 75. Therefore,enrollment.
the insurance company closely examines the



1 A B C D 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107