Guardian’s critical illness insurance provides a lump sum payment up to $50,000 upon diagnosis of a covered illness. Funds may be used to cover medical expenses like deductibles and experimental treatments, or even non-medical expenses like travel to treatment centers or child care, according to a press release.
Additionally, Guardian offers a hospital rider that pays policyholders up to $500 per day for lengthy hospital stays (up to 10 days) for illnesses that are not covered under the critical illness policy.
“At a time when healthcare costs continue to outpace inflation and business owners are looking for ways to not only reduce expenses, but also increase value, the unique packaging of our critical illness insurance, hospital rider and high deductible health plans provides greater protection at a lower cost when compared to many PPO and HMO plans,” said Barry Petruzzi, 2nd Vice President, Group Life & Disability, in the announcement. “Less money for more protection resonates with employers and employees in today’s economy.”