Life can be unpredictable. Are you and your employees prepared if a critical illness occurs?
Dealing with a critical illness can be extremely challenging—physically, emotionally and financially. With Group Critical Illness Insurance, employers can help reduce this burden by focusing on recovery from conditions like cancer, stroke or heart attack.
Provide financial peace of mind
Critical Illness Insurance showcases your commitment to your workforce’s wellbeing, but it also provides employees and their families with much-needed financial peace of mind during challenging times. We know that the wellbeing of your employees is directly linked to productivity and business success. Financial burdens are one of the main stress factors that can affect employee wellbeing—and ultimately impact engagement and productivity.
There are many unknown costs associated with being diagnosed with a critical illness, and government health care programs in Canada typically don’t cover all these costs. With Group Critical Illness Insurance—a product designed to supplement existing life, disability and health benefits—employees will receive a tax-free, lump sum cash payment to cover expenses such as mortgage or rent from lost income, outstanding debts, bringing loved ones home in a time of need, home modifications, alternative treatments, travel expenses for treatments and more.
More than 35 conditions are fully or partially covered by Group Critical Illness Insurance so employees can reduce financial stress and focus on recovery.
Benefits of Group Critical Illness Insurance
Aside from alleviating financial stress, there are other important reasons to consider this coverage:
- No restrictions on how the money is used: employees are free to use the lump-sum payment as they choose.
- Improved employee wellbeing: provides an extra layer of protection for your employees and gives them added peace of mind.
- Protection for the whole family: coverage is for the employee, their spouse and dependents.
- Budget-friendly coverage: different levels of coverage at affordable rates to suit your needs and budget.
- Attracting and retaining top talent: in today’s competitive job market, offering a full suite of benefits can further set you apart from other employees and position you as an employer of choice.
Employees who are more financially secure are more likely to experience improved mental health—resulting in a healthier and happier workforce. Learn more about Group Critical Illness Insurance.