Great-West Life introduces critical illness plan

(May 11 – 14:30 ET) – Great-West Life Assurance Company has introduced a critical illness plan to its portfolio of individual insurance products. The new plan, Oasis, covers additional expenses that often accompany a critical illness or condition – expenses that may not be covered by medical or disability insurance.

Oasis clients can choose a lump sum benefit between $10,000 and $1,000,000 which can be used any way they wish. The basic plan covers heart attack, life-threatening cancer and stroke, which account for approximately 80% of all critical illness claims. Options covering 15 additional illnesses or conditions, return of premium on death, and waiver of premium on disability are also available.