Cancer

Cancer Insurance for Your Employees’ Needs and Peace of Mind
Being diagnosed with cancer can have a devastating impact on the lives of the sick individual as well as on family and friends. On top of this, treating cancer is extremely expensive, and survival without the proper treatment is often not a viable option. To provide supplemental coverage for cancer treatment and costs, many employers offer voluntary cancer insurance to their employees. These policies go beyond traditional health plans, since many do not provide sufficient coverage for the costs surrounding the disease.

What Does a Typical Cancer Insurance Policy Cover?
There are currently two types of cancer policies available today. One provides the insured with one lump-sum payment upon cancer diagnosis—similar to critical illness coverage. . Then, those benefits can be used to pay for costs associated with treatment, such as deductibles and copayments. The other provides the insured with a smaller sum at the time of diagnosis and then pays benefits based on the needs of the insured throughout treatment:

Who Should Purchase a Cancer Insurance Policy?
The following employees would benefit most from this voluntary benefit:

• Those with a family history of cancer.
• Those who do not have enough in savings to pay for medical treatment not covered by traditional health insurance policies.
• Those who are their family’s sole wage earner.

For more information on cancer insurance and other voluntary benefit offerings for your employees, contact Risty Benefits at 605.338.1489 today.

Critical Illness

Critical illness insurance plans play an important role in strengthening your employee’s financial safety net.  Employers can offer the benefit as a recruiting tool or as a way to compensate for change in core medical plans.  A critical illness can affect not only your employee’s health but also their bank account.  Medical expenses reportedly lead to more than half of all the bankruptcies in the United States.

Critical Illness Insurance – provides a lump sum benefit directly to the employee for the six leading illnesses and health events:

• Cancer
• Heart Attack
• Stroke
• Major organ transplant
• Kidney failure
• Coronary artery bypass graft

Consider offering this coverage I your benefits package to alleviate some of the financial burdens of suffering a major illness. Contact Risty Benefits today for more information.