Medical advancements have significantly improved an individual’s ability to survive a wide range of life-threatening diseases. Critical Illness insurance provides you with a lump sum, non-taxable cash payment in the event of certain common illnesses. The premium is deductible to the employer and is taxable to the employee when employer paid. The benefit is non-taxable in the event of a claim.
Each carrier has specific illnesses that they cover. We have listed the most common illnesses below:
With this coverage you can use the policy’s proceeds as you wish.
When diagnosed with a serious illness, members are faced with additional expenses such as:
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Donnelly Advisors Group Inc.