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
8
Made with FlippingBook Proposal Creator