Critical Illness, cancer products.Two major insurers in early spring introduced products that bridge the gap between traditional health insurance coverages and the additional costs that critical illnesses can bring. MetLife Inc. launched a package of critical illness insurance Critical illness insurance or critical illness cover is a contract, invented by Dr Marius Barnard[1], where an insurer makes a lump sum cash payment if the policyholder is diagnosed with one of the critical illnesses listed on the insurance policy and survives a products that pay a lump sum Lump sum A large one-time payment of money. of up to $100,000 when an insured is struck by cancer, heart attack, stroke or kidney failure kidney failure or renal failure Partial or complete loss of kidney function. Acute failure causes reduced urine output and blood chemical imbalance, including uremia. Most patients recover within six weeks. or needs a coronary artery bypass graft coronary artery bypass graft n. Abbr. CABG A surgical procedure in which a section of vein or other conduit is grafted between the aorta and a coronary artery below the region of an obstruction in that artery. or major organ transplant organ transplant: see transplantation, medical. . The products are available on an individual or group basis. Colonial Supplemental Insurance, part of the UnumProvident group, introduced a cancer product sold to employees at their work sites and that pays benefits directly to the policyholder upon diagnoses or treatment. The product also has a screening/wellness feature that pays for any one of 17 different cancer screening tests. Learn More Genworth Financial A.M. Best Company # 59197 Distribution: Primarily independent agents Protective Life Insurance Co. A.M. Best Company # 06962 Distribution: Independent agents, broker/dealers, direct marketing Thrivent Financial for Lutherans Thrivent Financial for Lutherans (first word pronounced "THRIVE-int" — or more precisely, alluding to contractions, "thrive—n't"; IPA pronunciation: /ˈθɹaɪvɘnt/ A.M. Best Company # 06008 Distribution: Financial associates and career agents The Guardian Insurance & Annuity Co. A.M. Best Company # 08197 Distribution: Career agents, independent agents, outside brokers For ratings and other financial strength information about these companies, visit www.ambest.com. New Products is compiled by Senior Associate Editor Ron Panko. |
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