Allstate Benefits Canada's Voluntary Critical Illness Benefit

Simply Benefits Marketing

By Simply Benefits Marketing

July 10, 2024

Discover the Comprehensive Coverage of Allstate Benefits Canada's Voluntary Critical Illness Benefit

Health emergencies are unpredictable and often come with significant financial strain. Allstate Benefits Canada's Voluntary Critical Illness Benefit, offered through the Simply Benefits Marketplace, provides a comprehensive solution to these uncertainties. While group benefits plans and Provincial Health Insurance cover some costs, out-of-pocket expenses can still arise. Allstate Benefits Canada's Comprehensive Critical Illness coverage provides financial support upon the diagnosis of a covered critical illness. Moreover, it offers access to advisory services from TELUS® Health Care Centres in Canada and PinnacleCare in the U.S., providing valuable guidance and peace of mind during challenging times.

This benefit is specifically designed to help you handle the financial repercussions of a critical illness, offering cash benefits and access to professional advisory services. Discover how enrolling in this coverage can give you the confidence and security to face health challenges head-on, without the added worry of financial instability.

Why Choose Critical Illness Insurance?

Critical illnesses like cancer, heart disease, and stroke are significant concerns for Canadians, being responsible for over 50% of the deaths in Canada​​. On average, 641 Canadians are diagnosed with cancer every day, and a stroke occurs every 10 minutes​​. The financial implications of such diagnoses are considerable, with illness and medical problems being one of the top reasons for personal bankruptcy in Canada​​.

Given these statistics, it is crucial to have a financial safety net. Allstate Benefits Canada's Voluntary Critical Illness Benefit provides this safety net by offering lump-sum payments that can be used to cover a wide range of expenses, from medical bills to daily living costs, ensuring that financial stress does not compound the challenges of a health crisis.

How the Tax-Free Lump Sum Can Help

The tax-free lump sum provided by Allstate Benefits Canada's Voluntary Critical Illness Benefit can be a crucial support mechanism during a health crisis. Here are several ways it can help:

01 Medical Expenses: While Provincial Health Insurance and group benefits cover many costs, they often do not cover everything. The lump-sum payment can help bridge the gap, covering out-of-pocket expenses such as specialized treatments, medications, and rehabilitation services.

02 Living Expenses: Health crises can lead to a significant loss of income, especially if the affected individual or their family members need to take time off work. The lump-sum payment can help cover everyday living expenses, ensuring that rent, mortgage payments, utility bills, and groceries are taken care of.

03 Debt Repayment: Many Canadians carry substantial debt, with the average owing $20,165 in student loans, $3,929 on credit cards, $21,717 in car loans, and $13,986 in personal loans​​. The lump-sum payment can help reduce or pay off these debts, providing financial relief and improving mental well-being.

04 Travel and Accommodation: For treatments that require travel to specialized medical facilities, the lump-sum payment can cover travel and accommodation expenses, ensuring that individuals have access to the best possible care.

05 Home Modifications: Some critical illnesses may necessitate modifications to the home to accommodate new health needs. The lump-sum payment can be used to make necessary adjustments, such as installing ramps, handrails, or other accessibility features.

06 Caregiver Support: The funds can help pay for professional caregivers or support services, allowing family members to take breaks and ensuring the patient receives the necessary care and attention.

07 Childcare and Education: Covering childcare expenses or educational costs for young children, ensuring that their needs are met during the health crisis.

By offering this financial flexibility, Allstate Benefits Canada's Voluntary Critical Illness Benefit ensures that individuals can focus on their recovery and well-being without the added burden of financial stress. This comprehensive support is designed to cover a wide range of needs, making it a valuable addition to anyone’s financial planning and health care strategy.

How the Voluntary Critical Illness Coverage Works

Members have the option to purchase Voluntary Critical Illness coverage to protect themselves and their families. In the event of a covered critical illness diagnosis, members will receive a cash benefit based on the selected coverage. This financial support allows them to focus on recovery without the added stress of financial concerns. A Nurse Navigator is available to assist with concerns regarding a diagnosed or suspected critical illness, offering professional guidance and support during a challenging time.

During the open enrollment period, running from July 1 to July 31, members have a unique opportunity to enroll without needing to provide medical evidence. This 31-day window is your chance to secure coverage effortlessly. If you miss this period, you'll have to wait until the next open enrollment in July 2025 to sign up.

Key Features of Allstate Benefits Canada's Voluntary Critical Illness Coverage

01 Guaranteed Issue Coverage: Coverage is available without requiring medical evidence during the open enrollment period, subject to exclusions and limitations.

02 Spousal and Dependent Coverage: Additional coverage can be purchased for spouses, and dependent children are covered at no extra cost for 50% of the Comprehensive Critical Illness benefit amount.

03 Benefit Payments: Benefits are paid out regardless of other medical or disability plan coverage, ensuring that you receive the financial support you need.

04 Affordable Premiums: Premiums are competitively priced and payments are conveniently processed using the banking information provided by the member, not through payroll deduction.

05 Continued Coverage: Coverage can continue even after employment, providing long-term security and peace of mind.

06 No Pre-Existing Condition Exclusions: There are no exclusions for pre-existing conditions and no survival period requirements, ensuring comprehensive and immediate support.



FAQs about Allstate Benefits Canada's Voluntary Critical Illness Benefit

01 What are the enrollment details?
Members who have not previously opted out of the Voluntary Critical Illness Benefit from Allstate Benefits Canada can enroll without medical evidence during a 31-day open enrollment period, running from July 1 to July 31. If members do not opt-in during this period, they will have to wait until the next open enrollment in July 2025.

02 Do employees pay directly for these benefits?
Yes, Voluntary Benefit premiums are paid directly by the member using the banking information they have provided in our system. Optional Benefits are carried over from the previous carrier after approval from the Simply Benefits Sales Team.

03 What are the premiums for each benefit?
Premiums for Voluntary benefits depend on several factors, such as the coverage amount selected and answers to health-related questions (e.g., smoking status). Rates are set and designed to be affordable for all members.

04 Can the employer add on CyberBOXX for the entire group?
Currently, CyberBOXX is a Marketplace-only product and is not offered as part of a group plan design.

Protecting your health and financial well-being has never been more important. With Allstate Benefits Canada's Critical Illness Benefit, you can focus on your recovery and health without the added financial stress. This comprehensive coverage ensures that you and your family have the necessary financial support in the event of a critical illness diagnosis.

For more information or to enroll, visit the Simply Benefits Marketplace or contact our support team. Your health and financial well-being are our top priorities, and we are here to help you every step of the way.

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