NU Online News Service, June 23, 2003, 5:05 p.m. EDT – The Allstate Corp., Northbrook, Ill., is now selling individual critical illness insurance through the worksite to workers ages 18 to 69.
Benefit levels range from $5,000 to $100,000.
Allstate is writing the policies through a subsidiary, American Heritage Life Insurance Company, Jacksonville, Fla.
Allstate can increase premiums by class, but the policies are guaranteed renewable, and insureds can collect benefits without meeting a requirement that they survive for a minimum period of time.
Allstate notes that its critical illness policy covers insureds against the risk of suffering more than one critical illness.
An insured who suffers a stroke, then suffers a second critical illness, such as kidney failure, can still collect for the second illness, Allstate says.
The policy is not available in Connecticut, Massachusetts, New York or Virginia.