Critical Illness Insurance

With critical illness insurance, you’ll receive a lump-sum cash payment if you or an eligible family member are diagnosed with a covered illness. Our plan covers many conditions, and can help pay for costs not covered by a traditional health plan. There are no health questions and all coverage in the standard plans is guaranteed issue.

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Coverage Provided by:

0%
of bankruptcies are caused directly by medical expenses.1
0%
of Americans fear they won’t be able to afford health care in the upcoming year.2
0%
of U.S. adults are currently unable to afford a $1,000 emergency expense.3

What it does

Provides a lump-sum payment if you are diagnosed with one of the covered serious illnesses.

How it works

After you receive a diagnosis for a covered condition and submit your claim to us, you’ll receive your payment. There’s no waiting period and payments are made directly to you, so you can use them as you see fit.

What it doesn’t do

Provide payment for illnesses or conditions that were diagnosed prior to your effective date, or for illnesses or conditions that aren’t covered. Check with your benefits representative for your company’s specific plan details.

Benefits

What’s covered?

  • Heart attack and stroke

  • Cancer

  • Conditions such as a benign brain tumor, coma, paralysis and burns

  • Childhood conditions like down syndrome, cerebral palsy, complex congenital heart disease and cystic fibrosis

  • A wellness benefit is available in most states, providing an additional cash payment when an approved wellness screening is completed.

You decide how to use your payment

  • Out-of-pocket medical costs, including deductibles and co-pays

  • Rehab costs

  • Rent or mortgage payments

  • Groceries

  • Utility or credit card bills

  • Childcare

  • Other financial support

Transparent Pricing

Monthly Premium Illustration for Member Benefit

Coverage Amount

AGE $5,000 $10,000 $15,000 $20,000 $25,000 $30,000
Less than 40 $5.79 $10.54 $15.29 $20.04 $24.79 $29.54
40-49 $10.64 $20.24 $29.84 $39.44 $49.04 $58.64
50-59 $20.54 $40.04 $59.54 $79.04 $98.54 $118.04
60 and over $34.94 $34.94 $68.84 $136.64 $170.54 $204.44

Monthly Premium Illustration for Spouse Benefit

* Spousal coverage is available up to a maximum of 50% of the primary member’s benefit.

Coverage Amount

AGE $2,500 $5,000 $7,500 $10,000 $12,500 $15,000
Less than 40 $3.42 $5.79 $8.17 $10.54 $12.92 $15.29
40-49 $5.84 $10.64 $15.44 $20.24 $25.04 $29.84
50-59 $10.79 $20.54 $30.29 $40.04 $49.79 $59.54
60 and over $17.99 $34.94 $51.89 $68.84 $85.79 $102.74

Monthly Premium Illustration for Child(ren) Benefit

Coverage Amount

$2,500 $5,000
Child(ren) $1.78 $3.55

FAQ

Group critical illness insurance is designed to pay a lump sum cash benefit when an insured is diagnosed with a covered condition (i.e. heart attack, stroke, cancer, etc.). The covered conditions are common and typically are survivable diagnoses.

Equitable’s critical illness insurance policy covers the most common conditions likely to arise over your lifetime and provides protection from the many expenses stemming from a significant medical condition.

Insureds are eligible to receive an annual benefit amount (default is $50) when they undergo any eligible exam or screening from the covered list.

Yes. No medical evidence is required for Equitable’s group critical illness insurance.

No, once enrolled and your benefits are effective, there are no waiting periods before benefits can be accessed.

All benefits for Equitable’s group critical illness insurance are paid directly to you to use as you see fit.

Yes. Equitable’s group critical illness insurance is portable, which means you can take your policy with you. Coverage and rates will remain the same.

Yes, we have two forms: one for a critical illness claim and a short form for the wellness benefit. The forms are designed to be easy to complete and submit to our claims department.  Our average turnaround time for claims is 5 days.

The plan does not provide payment for conditions that aren’t part of the covered list. Additionally, the policy has exclusions that may affect benefits payable.

Click here for full exclusions and limitations.

1, 2 Source: https://www.retireguide.com/retirement-planning/risks/medical-bankruptcy-statistics (Published October 2023)
3 Source: https://fortune.com/recommends/banking/57-percent-of-americans-cant-afford-a-1000-emergency-expense/ (Published January 2023)

Important Information

Limitations and exclusions: The following is a summary. A complete list of applicable exclusions and limitations are included in the policy and certificate. State variations may apply. We may not pay a benefit for any Critical Illness that is due to or results from: services or treatment for which an Insured is not charged, unless facility is a United States government facility; treatment or complications of treatment not related to a Critical Illness; an autologous bone marrow transplant; intentionally self-inflicted injuries or committing or attempting to commit suicide; elective plastic or cosmetic surgery; active military duty, or war or any act of war (excluding terrorism); your active participation in a riot, rebellion or insurrection; committing or attempting to commit an assault, felony or other criminal act or incarceration; your engagement in dangerous conduct or hazardous activity where there is a likelihood of death or serious Injury; being legally intoxicated or under the influence of any narcotic unless taken on the advice of a physician and taken as prescribed; or illegal use of inhalants or huffing.

This policy provides limited benefits: In some states, critical illness insurance is referred to as specified disease insurance. Critical Illness insurance is a limited benefit policy. It does NOT provide basic hospital, basic medical or major medical insurance, and does not satisfy the requirement for minimum essential coverage under the Affordable Care Act. THIS POLICY IS NOT A MEDICARE SUPPLEMENT PLAN. The certificate has exclusions and limitations for certain conditions that may affect any benefits payable. Benefits payable are subject to all terms and conditions of the certificate. For costs and complete details of the coverage, please see the actual policy or contact your insurance broker. Policy form AXEBP19 CI; MOEBP19 CI and state variations. Availability is subject to state approvals. NY: This policy provides limited benefits health insurance only. It does NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services. The expected benefit ratio for this policy is 70 percent. This ratio is the portion of future premiums that the company expects to return as benefits, when averaged over all people with this policy.

Legal disclosures: Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc., including Equitable Financial Life Insurance Company (Equitable Financial) (NY, NY), Equitable Financial Life Insurance Company of America (Equitable America), an AZ stock company with an administrative office located in Charlotte, NC, and Equitable Distributors, LLC. Equitable Advisors is the brand name of Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors in MI and TN). All group insurance products are issued either by Equitable Financial or Equitable America, which have sole responsibility for their respective insurance and backed solely by their claims-paying obligations. Some products are not available in all states.