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 $0.48 $0.48 25-29 $0.559 $0.559 30-34 $0.66 $0.66 35-39 $0.819 $0.819 40-44 $1.108 $1.108 45-49 $1.701 $1.701 50-54 $2.483 $2.483
55-59
$3.510
$3.510
60-64
$5.370
$5.370
65-69
$7.103
$7.103
70 & Over
$9.590
$9.590
Child(ren) monthly rate
$0.75 for $2,500 of coverage/family
To calculate your monthly cost to the right, please use the following formula: Benefit Amount x ___ Rate = Cost
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