Critical Illness Insurance. Why is having Critical Illness Insurance so important? Product Overview

Transcription

1 Critical Illness Insurance Prduct Overview Why is having Critical Illness Insurance s imprtant? Yur family s expenses will cntinue if and when a critical illness ccurs. Studies shw that sme families spend as much as $14,444 r mre during a time f critical illness and recvery. 1 And while financial experts recmmend having 3 9 mnths f living expenses set aside t help in an emergency situatin 2 like underging a serius illness, with tday s ecnmy, mst families dn t have that kind f mney in reserve. Quality health and disability insurance plans aren t always enugh. There may still be cverage gaps. Disability incme plans cver a prtin f yur incme while health insurance may leave yu with sme expenses t pay including: Health plan deductibles Prescriptin cpays Out-f-netwrk treatments Alternative treatments Critical illnesses can happen at any age and mre ften than yu may think. Help prtect yurself, yur family, and yur budget frm the financial impact f a critical illness. The dds f yu r a family member suffering a critical illness are actually quite surprising. Studies have shwn: The average age fr nset f a critical illness is Every year abut 715,000 Americans have a heart attack. 4 1 ut f every 2 men will be diagnsed with cancer at sme pint in their lives. 5 1 ut f every 3 wmen will be diagnsed with cancer at sme pint in their lives. 5 Critical Illness Insurance can help safeguard yur finances by prviding yu with a lump-sum payment when yur family needs it mst. The payment yu receive is yurs t spend as yu see fit and in additin t any ther insurance yu may have. cntinued >> ADF# CI542.14

2 Hw can having MetLife Critical Illness Insurance benefit yu and yur lved nes? MetLife Critical Illness Insurance prvides a lump-sum payment if yu r a cvered family member 6 is diagnsed with ne f the fllwing medical cnditins and meets the plicy and certificate requirements: Full Benefit Cancer, 7 Partial Benefit Cancer, 7 Heart Attack, Strke, 8 Crnary Artery Bypass Graft, 9 Kidney Failure, Alzheimer s disease, 10 Majr Organ Transplant and the 22 Listed Cnditins. 11 Yur plan pays a Recurrence Benefit fr the fllwing Cvered Cnditins: Heart Attack, Strke, Crnary Artery Bypass Graft, Full Benefit Cancer and Partial Benefit Cancer. A Recurrence Benefit is nly available if an Initial Benefit has been paid fr the Cvered Cnditin. There is a Benefit Suspensin Perid between Recurrences. 12 Payments will be made directly t yu, nt t the dctrs, hspitals r ther health care prviders. Yu will receive a check mailed directly t yur hme. The payment yu receive is yurs t spend as yu see fit and may be used t cver nging husehld bills like: Why shuld I enrll nw? Cmpetitive emplyee rates Yur acceptance is guaranteed prviding yu are actively at wrk 13 Enrllment perid ends sn Cnvenient payrll deductin Grceries Mrtgage and car payments Child care Or any ther way yu want; the chice is yurs Prtable cverage enables yu t take it with yu if yur emplyment status changes 14 Enrll tday! 1 MetLife Accident and Critical Illness Impact Study, Octber Hw big shuld yur emergency fund be?, Accessed January e-persnalfinance.cm, Hw Des Critical Illness Insurance Wrk, Accessed March CDC, Accessed March American Cancer Sciety, Cancer Facts and Figures Eligible Family Members mean all persns eligible fr cverage as defined in the Certificate. 7 Please review the Outline f Cverage/Disclsure Dcument fr specific infrmatin abut cancer benefits. Nt all types f cancer are cvered. Sme cancers are cvered at less than the Initial Benefit Amunt. Fr NH-sitused cases and NH residents, there is an Initial Benefit f $100 fr All Other Cancer. 8 In certain states, the Cvered Cnditin is Severe Strke. 9 In NJ sitused cases, the Cvered Cnditin is Crnary Artery Disease. 10 Please review the Outline f Cverage fr specific infrmatin abut Alzheimer s disease. 11 MetLife Critical Illness Insurance will pay 25% f the Initial Benefit Amunt fr each f the 22 Listed Cnditins until the Ttal Benefit Amunt is reached. A Cvered Persn may nly receive ne payment fr each Listed Cnditin in his/her lifetime. The Listed Cnditins are: Addisn s disease (adrenal hypfunctin); amytrphic lateral sclersis (Lu Gehrig s disease); cerebrspinal meningitis (bacterial); cerebral palsy; cystic fibrsis; diphtheria; encephalitis; Huntingtn s disease (Huntingtn s chrea); Leginnaire s disease; malaria; multiple sclersis (definitive diagnsis); muscular dystrphy; myasthenia gravis; necrtizing fasciitis; stemyelitis; plimyelitis; rabies; sickle cell anemia (excluding sickle cell trait); systemic lupus erythematsus (SLE); systemic sclersis (sclerderma); tetanus; and tuberculsis. 12 We will nt pay a Recurrence Benefit fr a Cvered Cnditin that Recurs during a Benefit Suspensin Perid. We will nt pay a Recurrence Benefit fr either a Full Benefit Cancer r a Partial Benefit Cancer unless the Cvered Persn has nt had symptms f r been treated fr the Full Benefit Cancer r Partial Benefit Cancer fr which we paid an Initial Benefit during the Benefit Suspensin Perid. 13 Cverage is guaranteed prvided (1) the emplyee is actively at wrk and (2) any dependents t be cvered are nt under medical restrictin as described in the Certificate. Sme states require the insured t have medical cverage. Additinal restrictins apply t dependents serving in the armed frces r living verseas. Fr CA sitused cases, cverage is guaranteed prvided (1) the emplyee is perfrming all f the usual and custmary duties f yur jb at the emplyer's place f business r at an alternate place apprved by yur emplyer (2) dependents are nt subject t medical restrictins as set frth n the enrllment frm and in the Certificate. 14 Eligibility fr prtability thrugh the Cntinuatin f Insurance with Premium Payment prvisin may be subject t certain eligibility requirements and limitatins. Fr mre infrmatin, cntact yur MetLife representative. METLIFE S CRITICAL ILLNESS INSURANCE (CII) IS A LIMITED BENEFIT GROUP INSURANCE POLICY. Like mst grup accident and health insurance plicies, MetLife s CII plicies cntain certain exclusins, limitatins and terms fr keeping them in frce. Prduct features and availability may vary by state. In mst plans, there is a preexisting cnditin exclusin. In mst states, after a cvered cnditn ccurs there is a benefit suspensin perid during which mst plans d nt pay recurrence benefits. Attained Age rates are based n 5-year age bands and will increase when a Cvered Persn reaches a new age band. A mre detailed descriptin f the benefits, limitatins, and exclusins applicable t CII can be fund in the applicable Disclsure Statement r Outline f Cverage/Disclsure Dcument available at time f enrllment. Fr cmplete details f cverage and availability, please refer t the grup plicy frm GPNP07-CI r GPNP09-CI, r cntact MetLife fr mre infrmatin. Benefits are underwritten by Metrplitan Life Insurance Cmpany, New Yrk, New Yrk. MetLife's Critical Illness Insurance is nt intended t be a substitute fr Medical Cverage prviding benefits fr medical treatment, including hspital, surgical and medical expenses. MetLife's Critical Illness Insurance des nt prvide reimbursement fr such expenses. Metrplitan Life Insurance Cmpany 200 Park Avenue New Yrk, NY L [exp0417][All States] 2016 METLIFE, INC. PEANUTS 2016 Peanuts Wrldwide LLC NW 3.5 AA OHIV

3 Critical Illness Insurance FAQs Frequently Asked Questins Q. What is Critical Illness Insurance? A. This is cverage that can help cver the extra expenses assciated with a serius illness. When a serius illness happens t yu r a lved ne, this cverage prvides yu with a lump-sum payment f $15,000 r $30,000 in Initial Benefits upn diagnsis. The Ttal Benefit Amunt available t yu is 3 times the Initial Benefit Amunt, which is $45,000 r $90,000, in the event that yu suffer mre than ne Cvered Cnditin. Payment(s) yu receive will be made in additin t any ther insurance yu may have and may be spent as yu see fit. Q. What types f illnesses are cvered under this plan? A. If yu meet the grup plicy and certificate requirements, Critical Illness Insurance prvides yu with a lump-sum payment upn diagnsis f the fllwing cnditins: Full Benefit Cancer 1 Crnary Artery Bypass Graft 3 Partial Benefit Cancer 1 Alzheimer s disease 4 Heart Attack Majr Organ Transplant Strke 2 22 Listed Cnditins 5 (see yur Outline f Cverage fr details) Kidney Failure Q. What happens if I have a recurrence? A. Yur plan pays a Recurrence Benefit fr the fllwing cvered cnditins: Heart Attack, Strke, Crnary Artery Bypass Graft, Full Benefit Cancer and Partial Benefit Cancer. A Recurrence Benefit is nly available if an Initial Benefit has been paid fr the Cvered Cnditin. There is a Benefit Suspensin Perid between Recurrences. 6 Payments may be used t help pay fr expenses generally nt cvered by medical and disability incme cverage. Q. Wh is eligible t enrll fr this cverage? A. Yu and yur eligible family members! 7 Yu just need t apply during yur enrllment perid. Q. I have a gd medical plan at wrk. Why d I need Critical Illness insurance? A. Even quality medical and disability incme plans dn t always cver all f yur expenses. Fr example, yur medical cverage may have deductibles and cpays and may nt cver ut-f-netwrk treatments. And if yu re ut n disability, nly a prtin f yur incme may be cvered. With the average family spending thusands f dllars during a time f critical illness and recvery, 8 mst peple will need the means t cver extra medical and daily living expenses. Such csts can include deductibles r items like grceries, husing expenses, car payments, and mre. Q. Can I enrll fr this cverage withut having t take a medical exam? A. Yes. Prvided yu are actively at wrk, yur enrllment is guaranteed. 9 cntinued >> ADF# CI543.14

4 Q. Hw much des Critical Illness insurance cst? A. This cverage may be less expensive than yu think! Yu can put this cverage in place as a way t supplement yur medical and disability incme plans. Exact rates can be fund in the materials prvided by yur emplyer. Q. Hw d I pay fr my cverage? A. Premiums will be cnveniently paid thrugh payrll deductin, s yu never have t wrry abut writing a check r missing a payment. Q. Are payments made directly t me r my health care prvider? A. Payments will be made directly t yu, nt t the dctrs, hspitals r ther health care prviders. Yu will receive a check, mailed directly t yur hme. Q. What happens if my emplyment status changes? Can I take my cverage with me? A. Yes. This cverage is prtable, meaning yu can take it with yu if yur emplyment status changes. 11 HAVE OTHER QUESTIONS? Please call MetLife directly at GET-MET8 ( ) and talk with a benefits cnsultant. 1 Please review the Disclsure Statement r Outline f Cverage/Disclsure Dcument fr specific infrmatin abut cancer benefits. Nt all types f cancer are cvered. Sme cancers are cvered at less than the Initial Benefit Amunt. Fr NH-sitused cases and NH residents, there is an initial benefit f $100 fr All Other Cancer. 2 In certain states, the Cvered Cnditin is Severe Strke. 3 In NJ sitused cases, the Cvered Cnditin is Crnary Artery Disease. 4 Please review the Outline f Cverage fr specific infrmatin abut Alzheimer s disease. 5 MetLife Critical Illness Insurance will pay 25% f the Initial Benefit Amunt fr each f the 22 Listed Cnditins until the Ttal Benefit Amunt is reached. A Cvered Persn may nly receive ne payment fr each Listed Cnditin in his/her lifetime. The Listed Cnditins are: Addisn s disease (adrenal hypfunctin); amytrphic lateral sclersis (Lu Gehrig s disease); cerebrspinal meningitis (bacterial); cerebral palsy; cystic fibrsis; diphtheria; encephalitis; Huntingtn s disease (Huntingtn s chrea); Leginnaire s disease; malaria; multiple sclersis (definitive diagnsis); muscular dystrphy; myasthenia gravis; necrtizing fasciitis; stemyelitis; plimyelitis; rabies; sickle cell anemia (excluding sickle cell trait); systemic lupus erythematsus (SLE); systemic sclersis (sclerderma); tetanus; and tuberculsis. 6 MetLife will nt pay a Recurrence Benefit fr a Cvered Cnditin that Recurs during a Benefit Suspensin Perid. MetLife will nt pay a Recurrence Benefit fr either a Full Benefit Cancer r a Partial Benefit Cancer unless the Cvered Persn has nt had symptms f r been treated fr the Full Benefit Cancer r Partial Benefit Cancer fr which we paid an Initial Benefit during the Benefit Suspensin Perid. 7 Eligible Family Members means all persns eligible fr cverage as defined in the Certificate. 8 MetLife Accident and Critical Illness Impact Study, Octber Cverage is guaranteed prvided (1) the emplyee is actively at wrk and (2) dependents are nt subject t medical restrictins as set frth n the enrllment frm and in the Certificate. Sme states require the insured t have medical cverage. Additinal restrictins apply t dependents serving in the armed frces r living verseas. Fr CA sitused cases, cverage is guaranteed prvided (1) the emplyee is perfrming all f the usual and custmary duties f yur jb at the emplyer s place f business r at an alternate place apprved by yur emplyer (2) dependents are nt subject t medical restrictins as set frth n the enrllment frm and in the Certificate. 11 Eligibility fr prtability thrugh the Cntinuatin f Insurance with Premium Payment prvisin may be subject t certain eligibility requirements and limitatins. Fr mre infrmatin, cntact yur MetLife representative. METLIFE S CRITICAL ILLNESS INSURANCE (CII) IS A LIMITED BENEFIT GROUP INSURANCE POLICY. Like mst grup accident and health insurance plicies, MetLife s CII plicies cntain certain exclusins, limitatins and terms fr keeping them in frce. Prduct features and availability may vary by state. In mst plans, there is a preexisting cnditin exclusin. In mst states, after a cvered cnditin ccurs there is a benefit suspensin perid during which mst plans d nt pay recurrence benefits. Attained Age rates are based n 5-year age bands and will increase when a Cvered Persn reaches a new age band. A mre detailed descriptin f the benefits, limitatins, and exclusins applicable t CII can be fund in the applicable Disclsure Statement r Outline f Cverage/Disclsure Dcument available at time f enrllment. Fr cmplete details f cverage and availability, please refer t the grup plicy frm GPNP07-CI r GPNP09-CI, r cntact MetLife fr mre infrmatin. Benefits are underwritten by Metrplitan Life Insurance Cmpany, New Yrk, New Yrk. MetLife s Critical Illness Insurance is nt intended t be a substitute fr Medical Cverage prviding benefits fr medical treatment, including hspital, surgical and medical expenses. MetLife s Critical Illness Insurance des nt prvide reimbursement fr such expenses. Metrplitan Life Insurance Cmpany 200 Park Avenue New Yrk, NY L [exp0517][All States] 2016 METLIFE, INC. PEANUTS 2016 Peanuts Wrldwide LLC NW 3.5 AA

5 Lam Research Crpratin MetLife Critical Illness Insurance Plan Summary Critical Illness Insurance COVERAGE OPTIONS Eligible Individual Initial Benefit Requirements Emplyee $15,000 r $30,000 Cverage is guaranteed prvided yu are actively at wrk. 3 Spuse/Dmestic Partner 1 100% f the emplyee s Initial Benefit Cverage is guaranteed prvided the emplyee is actively at wrk and the spuse/dmestic partner is nt subject t a medical restrictin as set frth n the enrllment frm and in the Certificate. 3 Dependent Child(ren) 2 100% f the emplyee s Initial Benefit Cverage is guaranteed prvided the emplyee is actively at wrk and the dependent is nt subject t a medical restrictin as set frth n the enrllment frm and in the Certificate. 3 BENEFIT PAYMENT Yur Initial Benefit prvides a lump-sum payment upn the first diagnsis f a Cvered Cnditin. Yur plan pays a Recurrence Benefit 4 equal t the Initial Benefit fr the fllwing Cvered Cnditins: Heart Attack, Strke, Crnary Artery Bypass Graft, Full Benefit Cancer and Partial Benefit Cancer. A Recurrence Benefit is nly available if an Initial Benefit has been paid fr the Cvered Cnditin. There is a Benefit Suspensin Perid between Recurrences. The maximum amunt that yu can receive thrugh yur Critical Illness Insurance plan is called the Ttal Benefit and is 3 times the amunt f yur Initial Benefit. This means that yu can receive multiple Initial Benefit and Recurrence Benefit payments until yu reach the maximum f 300% r $45,000 r $90,000. Please refer t the table belw fr the percentage benefit amunt fr each Cvered Cnditin. Cvered Cnditins Initial Benefit Recurrence Benefit Full Benefit Cancer 5 100% f Initial Benefit 100% f Initial Benefit Partial Benefit Cancer 5 25% f Initial Benefit 25% f Initial Benefit Heart Attack 100% f Initial Benefit 100% f Initial Benefit Strke 6 100% f Initial Benefit 100% f Initial Benefit Crnary Artery Bypass Graft 7 100% f Initial Benefit 100% f Initial Benefit Kidney Failure 100% f Initial Benefit Nt applicable Alzheimer s Disease 8 100% f Initial Benefit Nt applicable Majr Organ Transplant Benefit 100% f Initial Benefit Nt applicable 22 Listed Cnditins 25% f Initial Benefit Nt applicable 22 Listed Cnditins MetLife Critical Illness Insurance will pay 25% f the Initial Benefit Amunt fr each f the 22 Listed Cnditins until the Ttal Benefit Amunt is reached. A Cvered Persn may nly receive ne payment fr each Listed Cnditin in his/her lifetime. The Listed Cnditins are Addisn s disease (adrenal hypfunctin); amytrphic lateral sclersis (Lu Gehrig s disease); cerebrspinal meningitis (bacterial); cerebral palsy; cystic fibrsis; diphtheria; encephalitis; Huntingtn s disease (Huntingtn s chrea); Leginnaire s disease; malaria; multiple sclersis (definitive diagnsis); muscular dystrphy; myasthenia gravis; necrtizing fasciitis; stemyelitis; plimyelitis; rabies; sickle cell anemia (excluding sickle cell trait); systemic lupus erythematsus (SLE); systemic sclersis (sclerderma); tetanus; and tuberculsis. ADF# CI660.14

6 Example f Initial & Recurrence Benefit Payments The example belw illustrates an emplyee wh elected an Initial Benefit f $15,000 and has a Ttal Benefit f 3 times the Initial Benefit Amunt r $45,000. Illness Cvered Cnditin Payment Ttal Benefit Remaining Heart Attack first diagnsis Heart Attack secnd diagnsis, tw years later Kidney Failure first diagnsis, three years later Initial Benefit payment f $15,000 r 100% Recurrence Benefit payment f $15,000 r 100% Initial Benefit payment f $15,000 r 100% $30,000 $15,000 $0 Hw d I enrll? Enrll fr cverage during yur Enrllment Perid. QUESTIONS & ANSWERS Wh is eligible t enrll? Regular active full-time emplyees wh are actively at wrk alng with their spuse/dmestic partner and dependent children can enrll fr MetLife Critical Illness Insurance cverage. 3 Hw d I pay fr cverage? Cverage is paid thrugh cnvenient payrll deductin. What is the cverage effective date? The cverage effective date is 01/01/2017. If I Leave the Cmpany, Can I Keep My Cverage? 11 Under certain circumstances, yu can take yur cverage with yu if yu leave. Yu must make a request in writing within a specified perid after yu leave yur emplyer. Yu must als cntinue t pay premiums t keep the cverage in frce. Wh d I call fr assistance? Cntact a MetLife Custmer Service Representative at GET-MET8 ( ), Mnday thrugh Friday frm 8:00 a.m. t 8:00 p.m., EST. Individuals with a TTY may call Ftntes: 1 Cverage fr Dmestic Partners, civil unin partners and reciprcal beneficiaries varies by state. Please cntact MetLife fr mre infrmatin. 2 Dependent Child cverage varies by state. Please cntact MetLife fr mre infrmatin. 3 Cverage is guaranteed prvided (1) the emplyee is actively at wrk and (2) dependents are nt subject t medical restrictins as set frth n the enrllment frm and in the Certificate. Sme states require the insured t have medical cverage. Additinal restrictins apply t dependents serving in the armed frces r living verseas. Cverage is guaranteed prvided (1) the emplyee is perfrming all f the usual and custmary duties f yur jb at the emplyer's place f business r at an alternate place apprved by yur emplyer (2) dependents are nt subject t medical restrictins as set frth n the enrllment frm and in the Certificate. Sme states require the insured t have medical cverage. Additinal restrictins apply t dependents serving in the armed frces r living verseas. 4 We will nt pay a Recurrence Benefit fr a Cvered Cnditin that Recurs during a Benefit Suspensin Perid. We will nt pay a Recurrence Benefit fr either a Full Benefit Cancer r a Partial Benefit Cancer unless the Cvered Persn has nt had symptms f r been treated fr the Full Benefit Cancer r Partial Benefit Cancer fr which we paid an Initial Benefit during the Benefit Suspensin Perid. 5 Please review the Disclsure Statement r Outline f Cverage/Disclsure Dcument fr specific infrmatin abut cancer benefits. Nt all types f cancer are cvered. Sme cancers are cvered at less than the Initial Benefit Amunt. Fr NH-sitused cases and NH residents, there is an initial benefit f $100 fr All Other Cancers. 6 In certain states, the cvered cnditin is Severe Strke. 7 In NJ sitused cases, the Cvered Cnditin is Crnary Artery Disease. 8 Please review the Outline f Cverage fr specific infrmatin abut Alzheimer s disease. 11 Eligibility fr prtability thrugh the Cntinuatin f Insurance with Premium Payment prvisin may be subject t certain eligibility requirements and limitatins. Fr mre infrmatin, cntact yur MetLife representative. METLIFE S CRITICAL ILLNESS INSURANCE (CII) IS A LIMITED BENEFIT GROUP INSURANCE POLICY. Like mst grup accident and health insurance plicies, MetLife s CII plicies cntain certain exclusins, limitatins and terms fr keeping them in frce. Prduct features and availability vary by state. In mst plans, there is a preexisting cnditin exclusin. In mst states, after a cvered cnditin ccurs there is a Benefit Suspensin Perid between Recurrences. Attained Age rates are based n 5-year age bands and will increase when a Cvered Persn reaches a new age band. A mre detailed descriptin f the benefits, limitatins, and exclusins can be fund in the applicable Disclsure Statement r Outline f Cverage/Disclsure Dcument available at time f enrllment. Fr cmplete details f cverage and availability, please refer t the grup plicy frm GPNP07-CI r GPNP10-CI r GPNP09-CI, r cntact MetLife fr mre infrmatin. Benefits are underwritten by Metrplitan Life Insurance Cmpany, New Yrk, New Yrk. MetLife's Critical Illness Insurance is nt intended t be a substitute fr Medical Cverage prviding benefits fr medical treatment, including hspital, surgical and medical expenses. MetLife's Critical Illness Insurance des nt prvide reimbursement fr such expenses. L [exp0417][All States] Metrplitan Life Insurance Cmpany, New Yrk, NY PEANUTS 2016 Peanuts Wrldwide, LLC NW 3.5 AA