Critical Illness pays a lump-sum benefit if you are diagnosed with a covered disease or condition on or after your coverage effective date. See the product brochure, certificate of coverage and any applicable riders for a complete list of covered conditions, along with complete provisions, exclusions and limitations.

If you’re diagnosed with a covered critical illness like a heart attack or stroke, your life can change quickly. In addition to the emotional and physical toll, there may be strain on your personal finances. That’s because while a major medical plan may pay for some of the costs associated with treatment, out-of-pocket expenses like co-pays and deductibles can still have an impact to your finances. 

However, once you're enrolled in Critical Illness Insurance, you'll have financial protection if you're diagnosed with a covered critical illness on or after your coverage effective date. 

• Provides a payment directly to you to use however you see fit
• It can help pay out-of-pocket expenses related to medical care associated with covered illnesses
• In addition to medical care, you may use it to pay for things like childcare, lodging, or over-the-counter medication

You can collect this benefit in regardless of other coverage you have, including your employer’s major medical plan, any other type of medical coverage, disability insurance, or other benefits you may be eligible to collect. Critical Illness Insurance is a limited benefit.  It is not health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act.

Dealing with a critical illness can be costly to you. It’s not unusual for a critical illness to result in out-of-pocket expenses. It starts with the usual, deductibles and copays, but it doesn’t end there. You might decide to go to a doctor or facility that’s “out of network.” You might decide to get a second opinion or type of treatment that isn’t covered at all.

The advantage of this insurance is simple: you can use your critical illness benefit any way you choose. You can use it to help pay for medical expenses like deductibles and copays, as well as any non-medical expenses. You can also use this money to help pay daily living expenses such as grocery bills, mortgage payments, childcare, and transportation – all of which can be an added worry if you lose income while you’re out of work.

These are the periods when you are eligible to enroll for Critical Illness Insurance:

1. Within your new hire enrollment period
2. If you have a qualifying life event (you get married, have a baby, etc.)
3. During your employer’s annual enrollment

Check with your employer’s human resources/benefits team for specifics about these timeframes.

Keep in mind: Critical Illness Insurance is guaranteed issue coverage meaning you do not need to answer health questions in order to enroll. Pre-existing condition limitations may apply.  

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Visit the Voya Employee Benefits Resource Center