Prudential Group Insurance Offers Critical Illness Coverage Nationwide
Lump Sum Benefit Paid upon Diagnosis of Critical Illness or Condition
NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Group Insurance, a business of Prudential Financial, Inc. (NYS: 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. (NYS: 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.
Prudential Financial, Inc.
Sheila Bridgeforth, 973-802-6852
KEYWORDS: United States North America New Jersey
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