Kingston, Ont.-based Empire Life Insurance Co. has expanded its group critical illness (CI) insurance options, with two new products that provide more comprehensive coverage for policyholders, the company announced on Thursday.
Empire Life said that effective July 1, it will offer two new CI products for groups of three and up, called Traditional CI and Enhanced CI, in addition to its existing group CI plan, called Vital Assist CI.
The new Traditional CI product will cover 31 conditions, plus 15 conditions for dependent children, and will provide coverage ranging from $10,000 to $250,000.
The new Enhanced CI includes all Traditional CI features, as well as partial, multiple and cancer recurrence benefits. Both products offer dependant and spousal coverage.
The existing product, Vital Assist, is a simplified policy providing coverage for the four most common conditions: cancer, heart attack, stroke and coronary artery bypass surgery. It provides coverage levels of $10,000, $20,000 and $30,000, with no medical underwriting.
Vital Assist will be available to groups of three and up as of July 1. Previously, it was only available for groups of five and up.
The changes aim to provide more options and flexibility, according to Steve Pong, senior vice president, group solutions with Empire Life.
“Advisors are telling us they like that there’s lots of flexibility built into each product, so employers can select the type and the amount of coverage that’s right for their employees,” Pong said in a statement.
All Empire Life group CI customers will have access to the firm’s Health Concierge Service, delivered by MedExtra Inc., which provides medical, tactical, and emotional support for policyholders and their family members.