Dearborn National® introduces a Group Critical Illness Insurance Benefit
CHICAGO, IL – April 18, 2011 – Dearborn National® introduces a Group Critical Illness Insurance Benefit that provides a lump sum cash payment to cover any expenses an individual faces when suffering from a critical illness. The benefit is offered to customers on an employer-paid or voluntary basis.
"Our Critical Illness Benefit offers families a sense of comfort knowing that, if faced with a critical illness, they can focus on what's important—treatment and recovery," said Craig Nordyke, vice president and chief actuary at Dearborn National. "It fills gaps left by even the best health and disability income plans."
If the insured, or a covered family member, is diagnosed with one of the covered critical illnesses, when the claim is approved, our Critical Illness Benefit will pay a lump sum. The payment can then be used to cover whatever expenses, medical or otherwise, need to be paid. Proof of expenses is never required.
Other highlights include:
- Coverage on nearly a dozen covered conditions, including invasive cancer, heart attack, stroke and terminal illness.
- A death benefit, since the Critical Illness Benefit is part of a group life insurance policy. Any remaining benefits will be paid to the qualifying beneficiary.
- Benefits may be received for more than one critical illness, provided that the total of all benefits received does not exceed the total of the life insurance benefit amount.
"We're proud to offer a complete portfolio of benefit solutions that meet the emerging needs of our customers. The launch of a Critical Illness Benefit is timely given a focus on health care reform and a changing economic landscape," added Nordyke.
About Dearborn National®
With more than 40 years of experience, the Dearborn National brand companies offer a broad selection of insurance products, including Group Benefits (employer-paid/voluntary), Worksite and Individual, as well as an array of enhanced product services. Combined, we are licensed in all 50 states, as well as the District of Columbia, the U.S. Virgin Islands, the British Virgin Islands, Guam and Puerto Rico. The parent company of the Dearborn National brand companies, Health Care Service Corporation, a Mutual Legal Reserve Company, is the largest non-investor owned health care insurer in the United States and the fourth largest overall.
The Dearborn National brand companies include: Fort Dearborn Life Insurance Company® (Downers Grove, Illinois) and Colorado Bankers Life Insurance Company® (Greenwood Village, Colorado), both of which are not licensed in and do not solicit business in New York. In New York, the company is Fort Dearborn Life Insurance Company® of New York (Pittsford, New York).
For more information, please visit www.dearbornnational.com.
Director, Corporate Communications