Prudential Group Insurance, a business of Prudential Financial, Inc.
(NYSE: PRU), today announced the addition of Critical Illness insurance
to its suite of products available through the workplace. Critical
Illness insurance provides employers with more than 1,000 employees the
ability to offer a benefit that helps their employees deal with the
potentially catastrophic financial impact of critical illnesses such as
cancer, heart attack and stroke, among others. The benefit can be used
for costs either related or unrelated to the medical condition, paying
for expenses such as education, child care and other costs that might
not be able to be covered when an individual has a serious illness.
“Thanks to medical advances our chances of surviving a critical illness
are better than ever,” notes Bob Patience, vice president, voluntary
benefits, Prudential Group Insurance. “However, the out-of-pocket costs
during treatment and recovery, even with a good medical plan, can be
daunting. Critical Illness can help to pay such expenses.”
Critical Illness coverage pays a lump sum for covered illnesses or
conditions. The lump sum payment can bolster a family’s income at a time
when they are experiencing extraordinary expenses. The payment can be
used for any purpose. While other conditions may also be included, the
following are standard covered conditions: heart attack, cancer, major
organ transplant, renal failure, stroke, and coronary artery bypass
surgery.
“The inclusion of Critical Illness insurance in a group insurance plan
enables employees to help protect their financial wellness as well as
their physical wellness,” continues Patience. “The financial security
this coverage provides can allow patients to focus on recovery instead
of bills.”
Prudential Group Insurance manufactures and distributes a full range of
group life, long-term and short-term disability, and corporate and
trust-owned life insurance in the U.S. to institutional clients
primarily for use in connection with employee and membership benefits
plans. The business also sells critical illness insurance, accidental
death and dismemberment, and other ancillary coverages and provides plan
administrative services in connection with its insurance coverages.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader, has
operations in the United States, Asia, Europe, and Latin America.
Prudential’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds and investment
management. In the U.S., Prudential’s iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit http://www.news.prudential.com/.
Prudential, the Prudential logo and the Rock symbol are service marks
of Prudential Financial, Inc. and its related entities, registered in
many jurisdictions worldwide.
Group coverages issued by The Prudential Insurance Company of
America, 751 Broad Street, Newark, NJ 07102.
0246507-00001-00
Copyright Business Wire 2013