Desjardins Financial Security has launched a new critical illness insurance product for employers who want to help their employees cope with the financial stress related to health problems.

“The basic plan covers the four most common critical illnesses, and the enhanced plan covers 31 illnesses—the most comprehensive coverage available,” said Nathalie Laporte, vice-president of group and business insurance product development and marketing at Desjardins.
Subject to certain conditions, the new coverage has the following features:

  • Cancer recurrence provision: Coverage does not automatically end once a benefit is paid. The insured receives an additional payment of the full benefit amount in the event of a cancer recurrence.
  • Multiple benefit provision: An insured who has already suffered a critical illness and is later diagnosed with another covered critical illness may be eligible to receive another benefit.
  • Additional payment: The new coverage includes an additional payment of up to $25,000 for coronary angioplasty, prostate cancer, skin cancer or breast cancer.
  • Conversion privilege: In addition to a waiver of premiums provision, employees also have a conversion privilege that allows them to maintain their coverage if they cease to be a member of their group plan.

The new critical illness product is part of Desjardin’s Contact 360° program, which includes prevention strategies, intervention and support and guidance for employees to help them return to work.

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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