Bankers Life and Casualty has launched a new life and health insurance product, Critical Benefit to provide additional financial protection associated with treatment and recovery as well as cover non-medical expenses.

The critical illness insurance product, Critical Benefit provides benefit for the insured person who is suffering from a specified critical illness as well as financial protection associated with treatment and recovery.

The product also insures non-medical expenses including loss of income, at home recovery or treatment, experimental and or alternative medicine, child care and transportation costs as well as co-pays, deductibles and out-of-network expenses.

Bankers Life and Casualty Company strategic marketing and business development vice president Chris Campbell said, "Policies like Critical Benefit can help alleviate the financial burden and stress that can come from the unexpected costs associated with treatment and recovery of a common catastrophic illness."

In addition to providing several unique policy features such as benefit amount paid directly to the insured, not a hospital or doctor, no restrictions on how you use your cash benefit, the Bankers’ critical illness insurance provides benefit paid regardless of any other type of private medical insurance or Medicare coverage.