The financial impact of major health conditions such as cancer, heart attack, and stroke can create hardships for most Americans and their families. Critical Illness (CI) insurance provides additional financial protection for serious illnesses such as cancer, heart attack, stroke, Alzheimer’s Disease, renal failure, and more.
Members under age 65 can get up to $30,000 of CI coverage on a guaranteed issue basis, and eligible spouses of members can get up to $15,000 of coverage on a guaranteed issue basis. (Additional amounts of coverage require evidence of insurability.) This valuable insurance coverage is provided by The Prudential Insurance Company of America.
Premiums vary based on age. (Example: The monthly premium for $30,000 of CI insurance for a 40-year-old member is around $16/mo.) Benefits paid under this CI policy are in addition to any other benefits you may receive, and are paid directly to you.
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Flexible Coverage Amounts
Members who are 64 years old or younger may enroll for up to $30,000 of coverage, in $10,000 increments, allowing you to select the right level of insurance protection for yourself. At age 70, your coverage amount reduces to 50% of the initial coverage amount.
A Spouse/Domestic Partner (DP) may enroll for coverage up to $15,000 and children up to $15,000, in $5,000 increments. Neither the Spouse/Domestic Partner or children can exceed 50% of the member benefit.
No Restrictions On How You Use Your Benefit Payment
Even with health insurance, out-of-pocket medical and non-medical expenses such as deductibles or co-pays can really cause financial strain. With Critical Illness insurance, there are no limitations in how you use your benefit payments. The money can be used for anything you choose, such as home care and treatment, recuperation aid, mortgage payments or rent, child care, over-the-counter medications, groceries, college tuition, or travel to a treatment center.
Benefits are payable directly to you, as per the terms of the policy.
Does Not Terminate After One Benefit Payment
A reoccurrence benefit is a part of our standard offering and allows an insured to receive additional benefit payments for the second diagnosis of a previously covered condition up to a maximum benefit amount. The reoccurence benefit is payable at 100% of the amount paid for the first occurrence of the critical illness.
Coverage of These Ten Conditions
100% of the Amount of Insurance Payable For:
- Invasive Cancer
- Heart Attack
- Major Organ Failure
- Renal Failure
- Alzheimer’s Disease
25% of the Amount of Insurance Payable For:
- Cancer in Situ
- Severe Coronary Artery Disease
- Severe Heart Valve Malfunction
The Lifetime Maximum Benefit is 200% of your amount of Insurance.
National Cancer Institute (NCI) Evaluation Benefit Amount Payable
- $500; plus
- $250 for the transportation and lodging of the Covered Person requiring the evaluation if the NCI facility is more than 100 miles from the Covered Person’s primary residence.
Transportation Benefit Amount Payable
- The actual charges insured for travel by train, plane or bus
- Noncommercial travel of $0.50 per mile for travel by personal car
- Up to annual maximum of $1,000 per calendar year
- Excludes hospitals or medical facilities within 50 miles one way, from coverage person’s primary residence.
Lodging Benefit Amount Payable
- $100 per day for up to 60 days per calendar year per covered person receiving treatment
- Excludes hospitals or medical facilities within 50 miles one way, from the covered person’s primary residence. Not payable for lodging occurring more than 24 hours prior to treatment nor for lodging occurring more than 24 hours following treatment.
Lodging Benefit Annual Limit
- The Lodging Benefit is limited to 60 days per calendar year for each Covered Person receiving treatment during that visit.
Quick Payout Process to Policyholder
A lump sum is paid to the policyholder if he or she is diagnosed with a specific illness stated on an insurance company’s predetermined list.
SEE THE CERTIFICATE OF INSURANCE FOR DETAILED PLAN COVERAGE, EXCLUSIONS, AND LIMITATIONS. THE MEMBER CRITICAL ILLNESS INSURANCE IS SPONSORED BY THE AMERICAN ASSOCIATION OF BUSINESS NETWORKING (ABN) AND OFFERED ONLY TO MEMBERS. Learn more about ABN.
The products issued by The Prudential Insurance Company of America may not be available in all states.
This coverage is not health insurance coverage (often referred to as “Major Medical Coverage”).
This type of plan is NOT considered “minimum essential coverage” under the Affordable Care Act and therefore does NOT satisfy the individual mandate that you have health insurance coverage.
Group Critical Illness Insurance coverage is a limited benefit policy issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. Prudential’s Critical Illness Insurance is not a substitute for medical coverage that provides benefits for medical treatment, including hospital, surgical, and medical expenses, and it does not provide reimbursement for such expenses. The Booklet-Certificate contains all details, including any policy exclusions, limitations, and restrictions, which may apply. If there is a discrepancy between this document and the Booklet-Certificate/Group Contract issued by The Prudential Insurance Company of America, the Group Contract will govern. A more detailed description of the benefits, limitations, and exclusions applicable are contained in the Outline of Coverage provided at time of enrollment. Please contact Prudential for more information. Contract provisions may vary by state. Contract Series:114774. CA COA #1179, NAIC #68241.