Group Critical Illness Insurance

Offer extra financial protection for employees with Principal critical illness1 insurance

Critical illness insurance helps employees protect their financial security when diagnosed with a serious illness by providing them with a lump-sum cash benefit2.

Who pays the insurance premium?

体育网站投注Employees pick up the entire cost of the premium with voluntary critical illness insurance. They choose the level of protection that’s right for them and pay the premiums through payroll deduction.

What is critical illness insurance?

Critical illness insurance can help alleviate financial worries during a serious illness. A lump-sum cash benefit2体育网站投注 is paid to the insured person when they’re diagnosed with a specific critical illness. This benefit provides cash at a time when it may be needed most.

Why offer group critical illness insurance?

体育网站投注Life doesn’t always go as expected. Serious illnesses happen. And while medical insurance helps pay for medical expenses, and disability insurance replaces a portion of lost income, they don’t cover all the costs associated with having a serious illness. Critical illness insurance helps employees be financially prepared to handle those expenses.

How does group critical illness insurance work?

When an insured person is diagnosed with a specific critical illness, they receive a lump-sum cash benefit2 to use any way they choose, regardless of other insurance they have or actual expenses incurred. This includes expenses such as medical deductibles and copayments, travel costs for medical treatment, child care, lost income of spouse or caregiver, home healthcare needs, and more.

What illnesses are covered?

体育网站投注Our critical illness insurance covers 5 common serious illnesses:

  • Cancer
  • Heart attack
  • Stroke
  • Major organ failure
  • Coronary artery bypass graft

Employees select the amount of coverage that’s best for them, and can even cover their spouse and kids.

Key features of group critical illness insurance from Principal

体育网站投注Our simplified product design includes these features:

  • Proof of good health is not required during initial enrollment.
  • Multiple payouts for the same or different illnesses. Multiple benefits may be paid if the employee or family member suffers a critical illness, and is then diagnosed with another critical illness, whether a recurrence or a completely different illness.
  • A wellness benefit may be included to encourage employees and spouses to get preventive care.
  • It’s portable coverage employees can take with them.

I’m interested in Principal critical illness insurance. What’s next?

  • Talk to your financial professional about offering critical illness insurance. And, consider combining critical illness insurance with group disability insurance and accident insurance to offer a comprehensive benefits package.
  • Already a customer? .

Do you offer employee benefits through us?

Manage your benefits online.

Need to submit a claim?
  • Complete and submit the . 
  • New York customers:  Complete and submit the .
Need to submit a wellness claim?
  • Complete and submit a claim online after .
  • Or, complete and submit the . 
  • California customers: Complete and submit the .
Have questions?

Get online critical illness insurance claims help. Or, call us at 800-245-1522 for help in English or 800-243-1404 for help in Spanish.

体育网站投注Specified disease in New York.

Based on current federal income tax laws, if insurance premiums are paid with after-tax dollars, the benefits are received income-tax-free.

CRITICAL ILLNESS INSURANCE PROVIDES LIMITED BENEFITS. This is an overview of the benefits critical illness insurance provides, but there are limitations and exclusions. For cost and coverage details, contact your Principal representative. Critical illness insurance from Principal®体育网站投注 is issued by Principal Life Insurance Company, Des Moines, IA 50392. Oregon policy GC 5700 (CI) 0612.