UnitedHealthcare’s Golden Rule Insurance has unveiled a critical illness insurance plan for individuals and families, to offer cash payments to participants who are diagnosed with serious illnesses or health conditions.
As per the terms of the newly introduced plan, the cash benefit can be availed to cover living expenses, out-of-pocket medical costs and much more.
The US underwriter said that the people who opt for the critical illness insurance plan can receive a lump-sum amount if they are treated with a specified illness or condition, including cancer, heart attack, stroke or paralysis.
Consumers can choose their coverage amount, ranging from $10,000 increments up to $50,000.
Golden Rule CEO Richard Collins said, "Our new critical illness plans can provide financial protection as a supplement to health insurance or to help take care of daily living expenses if family income drops as a result a serious illness or injury."
The American Heart Association and the American Cancer Society said in its report that someone in the US suffers from a stroke every 40 seconds, and more than 1.6 million Americans are expected to be diagnosed with cancer, this year.
UnitedHealthcare offers personal health, dental and other speciality plans in 41 states and the district of Columbia, and marketed under the UnitedHealthOne brand.
The company has made available the new critical illness insurance plans to individuals and families in 21 states including Arizona, Arkansas, Colorado, Delaware, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, Missouri, Nebraska, Nevada, North Carolina, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas and Wisconsin.