CRITICAL ILLNESS INSURANCE
TradeGlobal provides Voluntary Critical Illness insurance to all full-time employees working 30 or more hours per week. The chart below provides an overview of the plan.
What is Critical Illness Insurance? Critical Illness plans pay a lump sum upon diagnosis of a covered critical illness for you to use where it’s needed most. It can help pay coinsurances, deductibles, caregivers, loss of income or extra living expenses.
Critical Illness Benefit Summary
Benefit Amount
Employee may choose a lump sum of $15,000 or $30,000
Alzheimer’s Disease, Coronary Artery Bypass Graft, Heart Attack, Kidney Failure, Major Organ Transplant, Stroke
Example of Covered Conditions
Spouse Benefit
50% of employees lump sum benefit
Child Benefit
50% of employees lump sum benefit
CRITICAL ILLNESS Monthly rates per $1,000 of benefit
Attained Age
Employee Only
Employee + Spouse
Employee + Child(ren)
Family
<25
$0.32
$0.55
$0.60
$0.83
25–29
$0.34
$0.59
$0.62
$0.87
30–34
$0.48
$0.81
$0.75
$1.08
35–39
$0.68
$1.12
$0.95
$1.40
40–44
$1.06
$1.72
$1.33
$1.99
45–49
$1.62
$2.60
$1.90
$2.88
50–54
$2.35
$3.77
$2.63
$4.05
55–59
$3.30
$5.31
$3.57
$5.59
60–64
$4.81
$7.75
$5.08
$8.03
65–69
$7.27
$11.72
$7.54
$12.00
70+
$11.30
$18.02
$11.58
$18.30
CRITICAL ILLNESS COST CALCULATION PER PAY PERIOD:
_____________________ Benefit Amount (either $15,000 or $30,000) / 1,000 x____________________ Monthly Rate (from chart)
= ____________________ x12 / 48
=____________________ Approximate Per Pay Period Cost
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