Columbia-based Colonial Life has introduced a group critical-illness insurance and cancer plan to help people pay bills resulting from serious illnesses such as cancer, heart attack or stroke.
The product, Group Critical Care 1.0, pays an ongoing benefit for the extended treatment of cancer, in addition to a lump-sum payment made after a diagnosis of cancer or a covered critical illness.
The insurance supplements major medical coverage by helping pay the direct and indirect costs associated with a specified critical illness or cancer, the company said.
“Many people assume their major medical insurance will cover everything if they suffer a heart attack or stroke or are diagnosed with cancer,” said Randy Finn, assistant vice president of product development at Colonial Life...
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