The Empire Life Insurance Company has enhanced its Vital Assist Health Benefit, a critical illness product that provides financial assistance to employees diagnosed with a serious illness.
Business owners can now choose among three different levels of coverage for employees: $10,000, $20,000 or $30,000. Vital Assist is an optional benefit offered by Empire Life through its BeneFit and 20Plus group benefits products. It consists of a lump sum payment and a medical expense benefit.
“When we first launched Vital Assist last year the product was well-received. At the same time, advisors told us they’d like to be able to offer additional levels of coverage to give business owners greater choice,” says Steve Pong, senior vice-president of group solutions. “This is something we’re really excited about. It’s an innovative, cost-effective way for employers to ease the financial pressures their employees face when recovering from serious illness.”
Employees in the group plan do not have to provide medical information to qualify for coverage under Vital Assist and, once covered, claims will not be denied because of a pre-existing medical condition.