Would you be interested in an insurance policy that pays you an additional sum for a critical illness beyond what your medical plan will give you? If your answer is yes, let us remind you that Eder now offers such a policy. It’s called Critical Illness Insurance. It’s new, and available during Eder’s Open Enrollment period, November 1-15.
When you or a loved one are battling a major illness, Critical Illness Insurance will pay you a lump sum to help cover your expenses, including deductibles, copays, and even everyday living expenses. The money is yours to use for anything you need. For instance, if your illness confines you to your home, you might use some of the money for an electric recliner or even a quality video monitor.
How much this insurance will pay depends on the specific plan you select, and there are also benefit plans for your spouse and children. You can choose from three options at $10,000, $20,000, or $30,000 and there are five options available for spouses and children.
For instance, if you suffer a paralysis, the plan will pay you either $10,000, $20,000, or $30,000 for you to use however you wish. Some illnesses are assigned a percentage. For instance, coronary disease will pay 50% of the benefit amount, or $5,000, $10,000, or $15,000. On the other hand, you will receive the full amount for a heart attack.
To purchase this insurance, you have to be actively employed at a participating employer. The cost goes up with your age but there is no maximum age. No medical exam is required, but some pre-existing conditions might affect the coverage. The cost of this insurance is affordable. If you have questions, reach out to Eder staff at insurance@eder.org.
You will likely have additional out-of-pocket expenses over and above what your medical insurance covers. In the event of a critical illness, like cancer or a stroke, wouldn’t you like to have extra money to cover anything you might need? Because in those critical moments, a little extra support can make all the difference.
