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home > products & services > critical illness insurance > comparison checklist |
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How should you compare Critical Illness Insurance products when deciding what to buy? The following checklist summarizes the most important features for you to consider: Special Limitation Period – the number of days following issue/reinstatement before full benefits are provided. Our special limitation period is 90 days in most states, 30 days in some and applies only to cancer. We pay 10 percent of the benefit, return premiums and cancel the policy for diagnosis of cancer during the special limitation period. Amount Paid for Each Covered Illness – Critical Illness Insurance from The Western and Southern Life Insurance Company (Western & Southern Life) pays upon first diagnosis 100 percent of your maximum benefit if you*:
Western & Southern Life's Critical Illness Insurance pays 25 percent of your maximum benefit if you*:
Benefit Reduction Age and Amount – We reduce benefit by 50 percent at later of age 65 and five years after issue for those 60 years or older at time of issue. Percentages and effective age vary with other companies. In some states, Critical Illness Plus is available. The Critical Illness Plus product does not have a reduction of benefit amount. Guaranteed Renewable – You can keep our Critical Illness Insurance policy for life. Premium Guarantee – Your Critical Illness Insurance premium rate is guaranteed for one year. We will only change rates by policy class subject to approval by state departments of insurance. Return of Premium Feature – This feature applies at death only. Upon the insured's death, we will return all Critical Illness Insurance premiums less claims paid. Not available in FL or MN. Riders Offered – We offer an Accidental Death Benefit Rider. Not available in all states. Underwriting Process – The underwriting process for Critical Illness Insurance involves an acceptance or rejection based on the answers to the questions on the policy application. An applicant is either accepted and issued a policy or rejected and denied coverage; no additional medical records or tests are required to determine eligibility. Issue Ages – We offer Critical Illness Insurance for issue ages 18-69. Minimum and Maximum Benefit Amounts Offered – Our current minimum benefit amount is $10,000; our current maximum is $100,000. Companion Policy – Rather than offering spouse riders, we offer companion policies. The companion policy applies to the spouse only and provides that if both Critical Illness Insurance applications are received at the same time, we will reduce the policy fee from the normal $50 per policy to $25 on each of the policies.  Critical Illness Insurance can help you secure your family's financial future. Get a quote or contact our Client Relationship Center at 1.866.832.7719 to learn more. Critical Illness Insurance is issued by The Western and Southern Life Insurance Company, Cincinnati, Ohio. *These benefit conditions and procedures are described in simple terms, and each has exceptions and limitations that are described in detail in the Summary of Coverage. Critical Illness Insurance does not replace the need for health insurance. THIS IS A LIMITED BENEFIT HEALTH INSURANCE POLICY. IT CONTAINS EXCLUSIONS, LIMITATIONS, REDUCTION OF BENEFITS AND TERMS FOR KEEPING THEM IN FORCE. PRODUCT AVAILABILITY, BENEFITS, COVERAGE, EXCLUSIONS AND LIMITATIONS MAY VARY BY STATE. Policy series numbers 0107-80, 0107-80-U, 0107-81, 0107-81-U, 0907-80, 0907-80-U In PA and VA, certificate series 0107-83 and 0107-86 Rider series 0107-85 |
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| Updated 5/19/2010 |
