When you or family members are seriously ill, you rely on your health coverage to cover most medical costs. Many people who suffer a critical illness can still face financial hardship due to their extensive illness, inability to work, and out-of-pocket costs. Please watch the Critical Illness Insurance video for more information on this benefit.
The Benefits for Life program offers Critical Illness/Cancer insurance through Trustmark Insurance Company. You can apply for coverage for yourself only, or for yourself and family members.
The plan provides a lump sum cash benefit upon the first diagnosis of a covered critical illness such as stroke, heart attack, invasive cancer, carcinoma in situ, major organ failure requiring transplant, renal (kidney) failure, paralysis of two or more limbs, blindness, ALS (Lou Gehrig's disease), or occupational HIV. Covered critical illnesses are limited to the specific definitions found in the policy.
Critical Illness insurance does not require a specific expense for payout. It is intended to help cover some of the expenses not covered by medical insurance, such as out-of-pocket deductibles and copays, child care, travel expenses and more. Pre-existing condition limitations and exclusions may apply.
This Critical Illness Insurance plan is designed to pay out upon one diagnosis of a covered critical illness or cancer. Once an initial payout is made, coverage will terminate and payroll deductions will stop.
| Employee Coverage Options | Underwriting Questions |
|---|---|
| $5,000 to $10,000 (Guaranteed Issue)* | No underwriting questions |
| $10,001 to $50,000 (Modified Guaranteed Issue)* | Three underwriting questions for Modified Guaranteed Issue |
| $50,001 to $100,000 - not to exceed 2 times pay (additional underwriting questions apply)* | Three additional underwriting questions |
*May be available on a guaranteed issue or modified guaranteed issue basis (some exceptions may apply).
There are also optional policy features, such as:
EZ Value Plan: Automatically increases your benefit each year for the first 5 years by the amount purchased with an extra $1/week in premium, with no evidence of insurability required. This can keep your benefit aligned with your increasing needs and also serve as a hedge against inflation.
Optional Waiver of Premium: Waives your premium payments if a doctor determines you are totally disabled.
Coverage is portable so you can take your coverage with you if you retire, reduce your hours or change jobs.
Shown below are sample bi-weekly rates for Critical Illness insurance for a non-smoker at ages 30, 40, and 50 with $20,000 of coverage.
| Age | $20,000 of Coverage - Bi-Weekly Rate (26 Per Year) |
|---|---|
| 30 | $6.54 |
| 40 | $9.74 |
| 50 | $17.82 |
Rates are illustrative only; exclusions and limitations apply to the plan. An application for insurance must be completed to obtain coverage.
Review the Trustmark Critical Illness Insurance plan documents by visiting benefitsforlife.org, locate the section on the right side of the page "Benefits for Life (BFL) State of Michigan Voluntary Benefit Program for Active Employees," then select the drop down "Critical Illness Insurance - Trustmark".
To file a Critical Illness Insurance claim, visit TrustmarkVB.com. To update policy information, or for questions about your policy, call 800-918-8877.
Critical Illness insurance underwritten by Trustmark Insurance Company, Lake Forest, Illinois. For disclosures, exclusions and limitations that may apply visit https://www.trustmarkbenefits.com/voluntary-benefits/disclosures/ci
Trustmark® is a registered trademark of Trustmark Insurance Company.
