Kingston, Ont.-based Empire Life Insurance Co. Monday announced that it has enhanced its innovative Vital Assist Health Benefit, a streamlined critical illness product that provides financial assistance to employees diagnosed with a serious illness.
Business owners can now choose among three different levels of coverage for employees: $10,000, $20,000, or $30,000. Vital Assist Health Benefit is an optional benefit offered by Empire Life through its BeneFit and 20Plus group benefits products. It consists of a lump sum payment and a medical expense benefit.
“When we first launched Vital Assist last year the product was well-received. At the same time, advisors told us they’d like to be able to offer additional levels of coverage to give business owners greater choice,” says Steve Pong, senior vice president, group solutions.
“It’s an innovative, cost-effective way for employers to ease the financial pressures their employees face when recovering from serious illness,” he adds.
Two features make Vital Assist stand out in the marketplace: employees in the group plan do not have to provide medical information to qualify for coverage and, once covered, claims will not be denied because of a pre-existing medical condition.