CRITICAL ILLNESS INSURANCE
Few expect a critical illness to happen to them but when it does, it can have a lasting impact on one’s health and financial wellbeing.
Wellfleet Workplace’s Critical Illness Insurance pays a lump-sum benefit following the diagnosis of a critical illness, such as heart attack, cancer or stroke.
Benefits like these can help protect employees and their families from the financial challenges that can come from a critical illness, allowing them to focus on what’s important – their healing.
It’s easy to become overwhelmed following the diagnosis of a critical illness. Our Critical Illness coverage can help provide peace of mind by paying a lump-sum benefit following the diagnosis of a serious illness, like a cancer or a stroke.
Some may wonder about what the difference is between health insurance and Critical Insurance, and why they might need it.
Health insurance covers certain medical expenses and pays your provider directly but may leave you responsible for some out-of-pocket costs. The amount paid depends on your coverage, the type of care and whether you’ve hit your out-of-pocket maximum.
Critical Illness Insurance is supplemental coverage that can complement your health insurance and help cover your out-of-pocket expenses. The benefit amount is based upon the diagnosis of a critical illness, is paid to you directly and can be used however you like.
number of people diagnosed with cancer each year in the U.S.1
1 National Cancer Institute. Cancer Prevalence and Cost of Care Projectionsexternal icon. Accessed June 29, 2018.
2 Matthew, Michael. (2018, May 1.) The 35 most expensive reasons you might have to visit a hospital in the US – and how much it costs if you do. Retrieved from BusinessInsider.com.
people — or 10 percent of adults — are carrying debt from. medical expenses that they had to pay out of pocket in the past year.3
3 Federal Reserve. (May 2017.) Report on the Economic Well-Being of U.S. Households in 2016. Retrieved from DisabilityCanHappen.org.
Coverage through Wellfleet Workplace is flexible, affordable and easy to use. Whether you’re an employee exploring coverage available through your workplace, an employer in search of ways to enhance your current benefits offerings, or an advisor interested in selling innovative and high-quality workplace benefits solutions, we want to hear from you.
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Wellfleet is the marketing name used to refer to the insurance and administrative operations of Wellfleet Insurance Company, Wellfleet New York Insurance Company, and Wellfleet Group, LLC. All insurance products are administered or managed by Wellfleet Group, LLC. Product availability is based upon business and/or regulatory approval and may differ among companies.