Dearborn National has responded to the gaps in traditional medical insurance and new healthcare legislation with a critical illness rider available on its term life insurance policy. Critical illness benefits can help to pay for unplanned medical expenses, or be used however the insured wishes. Benefits are available for eligible employees and their eligible dependents.

Many believe it will not happen to them
Cancer. Heart attack. Stroke. These and other critical illnesses are issues that no one wants to think about, but are real risks. For example, every year just under one million Americans have a heart attack. In addition, the American Cancer Society has predicted that almost 1.5 million new cancer cases will be diagnosed in 2010. The good news is that due to advances in early detection and modern medicine, many people can recover from a critical illness. Recovery, though, can be expensive.

High costs of critical illnesses

Many Americans underestimate the financial impact a critical illness can have on their lives. They rely on their group health coverage, and certainly this usually provides excellent and comprehensive medical expense benefits.

However, the out-of-pocket expenses for critical illnesses can add up when deductibles, co-payments, limits and excluded items are factored in. While many Americans also have disability insurance, typically it does not replace an insured’s total income.

Critical illness coverage for peace of mind
Critical Illness coverage helps to address the needs created by high deductibles and other expense gaps. When critical illness strikes, full attention should be given to treating it - not worrying about money or a confusing policy.

Dearborn National’s process is simple. The benefit is a rider to the employer’s group term life insurance. Once the coverage is in force, if an employee or insured dependent is diagnosed with a critical illness and provides the required proof of loss, the benefit is paid out in a single payment. Proof of expenses is not required.

Here are some examples of how the benefit can be used:

- Deductibles, co-payments, and out-of-pocket expenses incurred with medical care
- Experimental treatments not covered by insurance plans
- Transportation expenses to and from treatment facilities, as well as daycare for children or even pets
- To supplement income lost due to time away from work
- Household bills, utilities, food and everyday expenses
- Home modifications, such as expanding doorways and adding wheelchair ramps or lifts

Critical Illness benefit offers even more: if the covered insured or a covered dependent dies, any remaining portion of the critical illness benefit will be paid as a death benefit under the life insurance policy.

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The Critical Illness Acceleration Rider is form number FDL1-604CI-1010.

Products and services marketed under the Dearborn National® brand and the star logo are underwritten and/or provided by Fort Dearborn Life Insurance Company® (Downers Grove, IL) and certain affiliates. Fort Dearborn Life Insurance Company offers insurance products in all states (excluding New York), the District of Columbia, the United States Virgin Islands, the British Virgin Islands, Guam and Puerto Rico. The products referenced may not be available in all states.