Voluntary Benefits Coverage
Critical Illness Insurance
Provide a lump-sum benefit for serious diagnoses so employees can focus on recovery, not bills.
Basic overview
Critical illness insurance pays a lump-sum benefit when an employee is diagnosed with a covered serious condition such as heart attack, stroke, cancer, or major organ failure. The benefit is paid directly to the employee and can be used however it is needed most: medical deductibles, travel for treatment, household bills, lost income during recovery, or experimental care.
What this coverage typically includes
- Heart attack, stroke, and coronary artery disease
- Cancer diagnoses and related treatments
- Major organ failure and transplants
- Lump-sum payment paid directly to the employee
- Optional recurrence and wellness benefits
Why it matters for your team
A serious diagnosis often brings hidden costs beyond medical bills. Critical illness insurance gives employees immediate cash to focus on getting better rather than finances.
Best for
- Employees who want financial protection against major health events
- Families with a history of cancer or heart disease
- Employers who want affordable, high-impact coverage options
Frequently asked questions
Common questions about critical illness insurance for Arkansas employers and employees.
What conditions are covered by critical illness insurance?
Commonly covered conditions include heart attack, stroke, coronary artery bypass, cancer, major organ failure, and kidney failure. Some plans also offer riders for additional conditions.
How is the benefit paid?
The plan pays a lump-sum benefit directly to the employee upon diagnosis of a covered condition. The employee decides how to use the money, whether for medical bills, mortgage payments, or other expenses.
Can employees receive benefits more than once?
Some plans offer recurrence benefits, which allow employees to receive additional payments if a covered condition returns after a specified period. Wellness benefits may also be available for preventive screenings.
Does it matter if the employee has other health insurance?
No. Critical illness insurance pays regardless of other coverage. It is designed to help with the expenses that health insurance may not fully cover, such as lost income, travel, or household costs.
Is cancer coverage included?
Yes, most critical illness plans include cancer coverage as a core benefit. Some plans also offer separate cancer insurance policies with enhanced benefits.
How much coverage can employees choose?
Employees typically select a lump-sum benefit amount, such as $10,000, $20,000, or $30,000. Higher benefit amounts are available depending on the plan.
Ready to learn more?
Dogwood Benefit Solutions works with employers across Central and Southern Arkansas to design voluntary benefits packages that fit your workforce and budget.