Transamerica Employee Benefits Introduces CriticalAssistance® Advance

New Product Designed to Aid Consumers Facing Unexpected Critical Illnesses

LITTLE ROCK, Ark.--(BUSINESS WIRE)-- Transamerica Employee Benefits recently introduced CriticalAssistance^® Advance, a group voluntary benefit option designed for workers and their families facing a serious illness, such as heart attack, stroke or cancer. CriticalAssistance Advance strikes a balance between traditional health and disability insurance, offering the insured a lump sum benefit to help defray the costs—medical or otherwise—associated with the initial occurrence of a critical medical condition.

Against the backdrop of sky-rocketing healthcare costs, the uncertain economic climate and increasing limitations on traditional health benefits, planning for unfortunate medical events is increasingly important. CriticalAssistance Advance can help budget-conscious families who may not be able to withstand the financial shock of an unexpected illness.

“Advances in health and medicine are improving the outlook for people diagnosed with life-changing medical conditions, and employers recognize the need to offer supplemental benefits to their employees,” said Randy Clarkson, president of Transamerica Life Insurance Company’s Employee Benefits unit. “We are proud to offer this new product that will lessen the financial burden on individuals and families.”

CriticalAssistance Advance provides lump sum payments to plan covered individuals, their families or recently retired workers if they are initially diagnosed with one of several critical conditions, of which a complete list can be found at www.TransamericaEmployeeBenefits.com. Employee coverage is available up to $50,000 in $5,000 increments, while dependent coverage is available for 50 percent of the employee’s elected benefit. Optional riders are also available to customize plans based on employer and employee needs.

Designed with flexibility in mind, CriticalAssistance Advance enables individuals to decide for themselves how to spend the benefit payment. It can be used to cover a variety of expenses, including:

• Hospital bills and medical expenses
• Child care or house-sitting fees
• Credit card payments and other household bills
• Travel costs to out-of-town hospitals and treatment facilities
• Deductibles, co-pays and non-medical expenses, such as missed work and house-keeping

About Transamerica Employee Benefits

Transamerica companies have been helping people create better futures for over a century. Transamerica Employee Benefits is a marketing unit of Transamerica Life Insurance Company (CedarRapids, IA) and Transamerica Financial Life Insurance Company (Harrison, NY) that designs and markets voluntary group life and supplemental health insurance products. For more information, please visit www.transamericaemployeebenefits.com.

EdelmanJaren Anderson, 415-486-3217
[email protected]

Source: Transamerica Employee Benefits