According to Sun Life Financial, the features of the plan will include recurrence benefit rider; coverage levels from $5,000 to $50,000; cash benefits; health care support service; option to cover dependents for all categories of coverage; wellness screening benefit; and depending on the group size and participation.
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Sun Life senior vice president of voluntary and multiline, Bob Klein, said: "When a critical illness strikes an employee or their loved ones, even robust health coverage may only go so far.
"For many workers, a critical illness’s out-of-pocket expenses could easily cost 15% of household income. That means critical illness coverage represents not only an important recruitment and retention tool for employers, but a way for employees to protect themselves against serious financial loss," Klein added.
Founded in 1999, Sun Life Financial, an international financial services organization, provides a range of protection and wealth accumulation products and services to individuals and corporate customers.
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