Voluntary Critical Illness
Voluntary Critical Illness through Principal Financial helps safeguard your financial security by paying you a tax-free, lump-sum benefit if you are diagnosed with a covered condition, regardless of any other coverage you may already have or your actual expenses. Covered conditions include: Cancer, Heart Attack, Stroke, and Major Organ Failure. A pre-existing condition clause of 6 month prior/12 months insured applies. A summary of the benefits offered is listed below. Refer to the plan certificate for detailed Voluntary Critical Illness coverage information or visit www.principal.com .
MINIMUM BENEFIT
GUARANTEED ISSUE
MAXIMUM BENEFIT
For You
$5,000
$15,000
$100,000
For Your Spouse
$2,500
$7,500
$50,000*
For Your Children
$2,500
$2,500
$2,500
*Spouse benefit cannot exceed 50% of employee’s benefit up to $50,000
Monthly Step Rates per $1,000 of Benefit (spouse rate is based upon his/her individual age) Age Employee Spouse <24 $0.30 $0.30 25-29 $0.44 $0.44 30-34 $0.61 $0.61 35-39 $0.68 $0.68 40-44 $0.90 $0.90 45-49 $1.24 $1.24 50-54 $1.70 $1.70 55-59 $2.26 $2.26 60-64 $3.12 $3.12 65-69 $4.31 $4.31 70 & Over $6.31 $6.31 Child(ren) monthly rate No charge for $2,500 of coverage/family but must enroll as dependent(s)
To calculate your monthly cost to the right, please use the following formula: Benefit Amount x ___ Rate = Cost
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