Message from Wiley Long
President - ColoHealth
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Humana Critical Illness Plan

Humana Critical Illness Plan

Every year thousands of individuals are diagnosed with cancer or hospitalized as result of a heart attack or cancer diagnosis, and often times they find that their insurance does not fully offset the cost of such expensive and often long-term treatments. Critical illness plans are designed to do just that, pay you a cash amount in the result of a cancer diagnosis or vascular trouble to help pay for the expenses that are incurred as a result of these treatments.

Humana Critical Illness Cash Plan:

Humana's Critical illness plan allows you to select a benefit level between $5,000 and $50,000. The plan then pays out a set amount of money in the event of a specific diagnosis.

 

Vascular Diagnosis

 

Heart Attack

100% of benefit

Heart Transplant

100% of benefit

Stroke

100% of benefit

Coronary Artery Bypass Surgery

25% of benefit

Cancer Diagnosis

 

Invasive Cancer or Malignant Melanoma

100% of benefit

Carcinoma in Situ

25% of benefit

Other Critical Illnesses

 

Major Organ Transplant

100% of benefit

End Stage Renal Failure

100% of benefit

Loss of Speech or Vision

100% of benefit

Coma

100% of benefit

Permanent Paralysis due to Accidental Injury

100% of benefit

Optional Riders:

Humana's Critical Illness Cash Plan also has two separate riders that are available to be attached to any Critical Illness plan. They are Return of Premium and Return of Premium Cash Value.

Return of Premium: 

This rider states that on the 20th anniversary of Date of Policy, all premiums paid on the policy will be returned to you so long as all premiums until this date have been paid, the rider is in force, and no claim has been made on the policy. On the second and any later 20th anniversaries, all premiums will be returned for the preceding 20 year period, providing all previous conditions remain satisfied.

Return of Premium Cash Value:

This rider is essentially made up of two separate components. The first is the Return of Premium, which functions exactly as the other available rider but only lasts for the first 20 year period. The second part, the Cash Value benefit is based on a percentage of the total premiums paid for the policy and attached riders during the first 20 years the policy is in force. Cash value begins at the end of the fifth year of the policy and ends at the 20th anniversary of the policy when the Return of Premium benefit is paid. Prior to the 20th anniversary of the policy, if the policy lapses or you surrender the policy, you will be paid a percentage of the total premiums paid as follows:

 

During Policy Year

% of Total Premiums Returned

1 - 5

0%

6

6%

7

12%

8

18%

9

24%

10

30%

11

36%

12

42%

13

48%

14

54%

15

60%

16

66%

17

72%

18

78%

19

84%

20

92%

 

Cash Value benefit is payable only if the policy has remained in force continuously since the Date of Policy, no claim has been made on the policy, no Return of Premium benefit has been paid, cash value exists during the year of payment, the policy has been surrendered or lapsed, and the Cash Value rider is in force at the time of lapse or surrender.

How to Apply:

Unfortunately we cannot offer online applications for Humana's Critical Illness coverage at this time.  To apply, contact any one of our helpful Personal Benefits Consultants, or call our office at 866-749-2039 and within just a few minutes your application will be submitted.

About Humana:

Humana is a division of Humana Inc., one of the nation's largest publicly traded health benefits companies, with over 11 million medical members as of 2008, in 18 states and Puerto Rico.

Humana has been assigned an "A-" (Excellent) rating from the A.M. Best Company, an independent insurance rating organization. A.M. Best assigned this rating after a thorough quantitative and qualitative evaluation of a company's financial condition and operating performance.

ColoHealth is an independent authorized Humana agent.