A critical illness policy pays a cash benefit if the insured person is diagnosed with one of the medical conditions listed in the policy.
A critical illness policy is a health expense under Assuris protection.
If your life and health insurance company fails, Assuris guarantees that you will retain up to $250,000 or 90% of your benefit amount, whichever is higher.
$130,000
Original
benefit amount
Since your critical illness benefit is less than $250,000, you will retain your full benefit amount.
$130,000
Protected benefit amount
$300,000
Original
benefit amount
Since your critical illness benefit is more than $250,000, you will retain 90% of your benefit amount.
$270,000
$300,000 × 90%)
Adjusted benefit amount