Critical Illness
Elmet Technologies offers a voluntary critical illness benefit through Chubb that provides a monetary benefit to help with the out-of-pocket medical and non-medical expenses upon diagnosis of a covered illness. Critical illness insurance helps you and your family maintain financial security during the recovery period of a serious medical event, such as cancer, heart attack, or stroke. This plan pays a benefit if the initial diagnosis for a covered illness is while the certificate is in force. (See certificate for complete details.)
Benefit amounts for employees, spouses, and children are as follows:
Employee: $5,000 to $20,000
Spouse: 50% of the employee amount elected
Child(ren) to age 26: 25% of the employee amount elected
Employees may elect up to the maximum amount of coverage with no health questions.
Features
Benefits are paid in addition to any other insurance that you may have, and benefits are paid directly to you. This plan pays a benefit if the initial diagnosis for a covered illness is while the certificate is in force. (See certificate for complete details.)
Benefits may be used however you'd like. Typical uses include:
- Out-of-pocket medical and non-medical expenses
- Home health care needs and home modifications
- Recovery and rehabilitation
- Child care or caregiver expenses
- Travel expenses to and from treatment centers
You may elect Critical Illness at this time with no health questions. The plan includes a recurrence benefit for certain diagnoses. The lifetime maximum is up to 3 times the benefit amount.
Pre-Existing Condition Limitation
If an insured is diagnosed with a critical illness in the first six (6) months from their effective date of coverage, there will be a pre-ex investigation to determine if the illness was a pre-existing condition (any illness for which the insured received medical treatment, consultation, care, diagnostic procedures, or took prescribed medicines) in the six (6) months just before the coverage effective date. If the condition did exist in those six months, no benefit is payable. If the condition did not exist in those six months, benefits may be payable.
| Illness | Coverage |
|---|---|
| Benign Brain Tumor | 100% |
|
Cancer
Cancer (except skin cancer) Carcinoma in Situ Skin Cancer |
100% 25% $250 per year |
| Coronary Artery Obstruction | 25% |
| Coma | 100% |
| Heart Attack | 100% |
| End Stage Renal Failure | 100% |
| Major Organ Failure | 100% |
| Multiple Sclerosis | 100% |
| Stroke | 100% |
