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Employee benefits
Critical Illness insurance
Insurance that helps you focus on healing, not expenses
Equitable's critical illness insurance plan provides coverage for serious illnesses such as heart attacks, cancer, strokes and more. Lump sum payments are made directly to the insured.
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How critical illness insurance works
67% of bankruptcies are caused directly by medical expenses.¹
By opting for critical illness insurance, you help to ensure your family has the financial resources needed during challenging times.
Frequently asked questions about critical illness insurance
Group critical illness insurance is designed to pay a lump sum cash benefit when an insured is diagnosed with a covered condition (i.e. heart attack, stroke, cancer, etc.). The covered conditions are common and typically are survivable diagnoses.
Equitable's critical illness insurance policy covers the most common conditions likely to arise over your lifetime and provides protection from the many expenses stemming from a significant medical condition.
Insureds are eligible to receive an annual benefit amount (default is $50) when they undergo any eligible exam or screening from the covered list.
Yes. No medical evidence is required for Equitable's group critical illness insurance.
No, once enrolled and your benefits are effective, there are no waiting periods before benefits can be accessed.
All benefits for Equitable's group critical illness insurance are paid directly to you to use as you see fit.
Yes. Equitable's group critical illness insurance is portable, which means you can take your policy with you. Coverage and rates will remain the same.
Yes, we have two forms: one for a critical illness claim and a short form for the wellness benefit. The forms are designed to be easy to complete and submit to our claims department. Our average turnaround time for claims is 5 days.
The plan does not provide payment for conditions that aren’t part of the covered list. Additionally, the policy has exclusions that may affect benefits payable.
Click here for full exclusions and limitations.
¹ RetireGuide. retireguide.com/retirement-planning/risks/medical-bankruptcy-statistics. October 2023.
Availability of this product is subject to state approvals.
In some states, critical illness insurance is referred to as specified disease insurance. Critical illness insurance is a limited benefit policy. It does NOT provide basic hospital, basic medical or major medical insurance, and does not satisfy the requirement for minimum essential coverage under the Affordable Care Act. This policy is not a Medicare supplement plan.
The certificate has exclusions and limitations for certain conditions that may affect any benefits payable. Benefits payable are subject to all terms and conditions of the certificate. For costs and complete details of the coverage, please see the actual policy or contact your benefits representative. This overview is preliminary to the issuance of the policy and certificate.
The policy, certificate and rider, if applicable, may not be available in all states and may vary based on state laws and regulations. Policy form AXEBP19 CI; MOEBP19 CI and state variations.
NEW MEXICO BROKERS, EMPLOYERS AND RESIDENTS: This advertisement is not currently directed to, applicable to or intended for any person residing in New Mexico.
All group insurance products are issued either by Equitable Financial or Equitable America, which have sole responsibility for their respective insurance and are backed solely by their claims-paying obligations. Some products are not available in all states
GE-7366205.1 (11/2024) (Exp. 11/2026)
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