Riot or Insurrection. Pre-Existing Condition Limitation: Look-Back Period (Months). 6 Months. Pre-Existing Condition Lim
Liberty Life Assurance Company of Boston
Quick Facts The Critical Illness policy pays a fixed dollar amount if the policyholder is diagnosed with one of the specific illnesses and procedures included in the policy. Under the policy, benefits are paid directly to the policyholder and coverage is also available for: ■
T he policyholder’s spouse
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Dependent children
Critical Illness Insurance
Contact Information Sales, New Business, and Customer Service Support Center: Phone: 844-318-1376 Email:
[email protected]
Features: ■
S ix core Critical Illness and Critical Illness Procedures benefits, paid as a percentage of the face amount:
– Coronary Artery Bypass Surgery (25%) – Heart Attack (100%) – Category One (Full Benefit) Cancer (100%) – Category Two (Partial Benefit) Cancer (25%) – Organ Transplant (100%) – Stroke (100%) ■
Benefits are paid as a lump-sum, fixed dollar amount
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Spouses/Partners and Children may also be covered (for additional premium)
■
Simplified Issue
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Face amounts to fit various consumer needs and price points: $2,500 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $40,000 $50,000
Statistics: ■ ■
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Almost 1 in 6 families have had problems paying medical bills in the past 12 months1 1 in 10 families have had medical bills that they were unable to pay at all (a subgroup of those having problems paying medical bills), and 21.4% were paying medical bills over time1 2 6.8% of families in the United States experienced some type of financial burden due to medical care in 20121
Cohen RA, Kirzinger WK. Financial burden of medical care: A family perspective.
1
NCHS data brief, no 142. Hyattsville, MD: National Center for Health Statistics. 2014. FOR INTERNAL USE ONLY -- NOT FOR DISTRIBUTION TO THE PUBLIC
Critical Illness Benefit
Critical Illness Policy
Coverage: Policyholder
100%, Offered
Policyholder and Spouse
100%(Policyholder)/100% (Spouse), Offered (on or off)
Policyholder and Dependent Children
100%(Policyholder)/25% (Dependent Child), Offered (on or off)
Family (Policyholder, Spouse and Dependent Children)
100% (Spouse)/25% (Dependent Child), Offered (on or off)
Total Policy Maximum Policyholder
4X Face Amount
Spouse (If Covered)
4X Face Amount
Child (If Covered)
4X Face Amount
Total Family (If Covered)
4X Face Amount
Age Reduction Applied
Included
Reduction Age
65
Reduction Percentage
50%
Termination Age: Applied
Included
Termination Age
75
Exclusions Self-Inflicted Injury Intoxication Illegal Occupation Felony or Assault Riot or Insurrection Pre-Existing Condition Limitation: Look-Back Period (Months)
6 Months
Pre-Existing Condition Limitation: Effective Period (Months)
6 Months
Renewal Frequency
Annually Renewable
Premium Billing Mode
Monthly/Annual
Benefit Waiting Period
Amount and Mode
Waiting Period
30
Waiting Period Mode
Days
Underwriting Approach
Simplified Issue
Simplified Issue Maximum Benefit Amount
50,000
Contribution Type
Voluntary
Taxability
Premium Paid Post-Tax Benefits Non-Taxable
Increasing Face Amount
Not Included
Increase Amount
N/A
Increase Each of the First:
N/A
Recurrence Benefit
Not Included
Amount Payable
N/A
Months After Diagnosis
N/A
Policyholder Face Amount
$2,500; $5,000; $10,000; $15,000; $20,000; $25,000; $30,000: $40,000; $50,000
FOR INTERNAL USE ONLY -- NOT FOR DISTRIBUTION TO THE PUBLIC Liberty Life Assurance Company of Boston, a Liberty Mutual company, issues Critical Illness Insurance on policy form ICI P15 as applicable and state variations identified by state code. Critical illness insurance for qualifying diagnoses, accidents and/or events is not a substitute for major medical insurance. Payment of benefits is subject to pre-existing conditions, benefit waiting periods, and all policy terms and conditions. Product design and availability vary by state, and Critical Illness Insurance is not available in all states. Features and benefits may vary based on state approval. This policy provides limited benefits, is subject to lifetime and other maximum benefit limitations, and to reduction in benefit amounts on and after certain ages. Home office: Boston, Mass. Service center: Dover, N.H. USCM 2017262 7/17
