Industrial Alliance Introduces a New Critical Illness Insurance Product for the Participants, Spouses and Children of its Group Employees Plans
In a constant effort to meet the changing needs of its clientele, Industrial Alliance Insurance and Financial Services Inc. recently developed a new group critical illness insurance product. The protection offered by this product allows participants stricken with one of the 18 covered critical illnesses to take the time to recover, while maintaining their quality of life and that of their family. This protection can also be extended to the spouse and children.
"Industrial Alliance is proud to offer this product, which is specially designed to respond to a new reality," stated Jacques Parent, Vice-President, Sales and Underwriting, Group Insurance, Industrial Alliance. "Although medical advances and research have increased the chances of survival following a critical illness, this does not reduce the financial impact of the diagnosis of such an illness. With group critical illness insurance, employers can now alleviate the financial pressure on employees who have to defray certain expenses that are incurred when they are stricken with a critical illness."
Group critical illness insurance coverage has its own unique character that complements group health and disability insurance benefits. It guarantees insureds the payment of a lump-sum amount following the diagnosis of a covered critical illness. The amount of protection varies from $5,000 to $1,000,000.
Industrial Alliance is also proud to offer an optional plan specially designed for children. This plan covers such early childhood diseases as Down’s Syndrome, cerebral palsy, cystic fibrosis, autism or congenital heart diseases. Protection can reach up to $50,000 for each child.
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company that offers a wide range of insurance products and financial services. The fifth largest life insurance company in Canada, Industrial Alliance is at the head of a large financial group – the Industrial Alliance Group – which has operations across Canada. Industrial Alliance insures over 1.7 million Canadians, employs more than 2,400 people and manages and administers $25.5 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. Industrial Alliance is among the 100 largest public companies in Canada.
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