The FINANCIAL — No one ever expects to face a major illness. But according to the Canadian Cancer Society, nearly 197,000 new cases of cancer will occur in Canada this year. An estimated 70,000 Canadian citizens will have a heart attack.
One in 10 Canadians already has kidney disease.2 The statistics bring to light the importance of families being prepared so they can have better choices when it comes to their care, according to Allstate.
Allstate Benefits, ranked the No. 1 voluntary benefits provider in the United States3, wants to help find solutions for Canadian employers and citizens. Allstate Benefits is expanding its business into Canada and offering critical illness products and services that employers can offer their employees.
“We are excited to announce we are bringing this industry-leading product to Canada as our first Group Voluntary product offering available to Canadian employers for their employees,” says Gregory Guidos, Allstate Benefits president. “We have proven experience as a provider of critical illness benefits as evident of the more than 40,000 employers and three million employees we help take care of in the United States. By creating innovative products, we’re reinventing protection to help businesses add value, engage employees, and ultimately help improve customers’ lives.”
“Allstate Canada has been protecting Canadian homes and property from the unexpected for more than 60 years,” says John O’Donnell, president and CEO of Allstate Insurance Company of Canada. “We are pleased to announce this new Canadian initiative offered by our Allstate Benefits division.”
Allstate Benefits Critical Illness products help offer financial support when an insured person is diagnosed with a covered critical illness. Upon diagnosis and depending on which coverage is selected, a lump-sum cash benefit is paid for covered critical illnesses such as heart attack, stroke, major organ failure, kidney failure, invasive cancer, Alzheimer’s disease, Parkinson’s disease and more.
“Imagine being seriously ill and having to miss work. Imagine the stress and fear that exists,” said Guidos. “The benefit payments received from this coverage can go towards experimental treatment, drugs, clinical trials, expenses related to caregivers including family members. It helps empower people to seek the medical treatment they need. It provides some peace of mind by knowing the cash benefit can help cover some of the everyday expenses, such as rent or mortgage payments, daycare fees or utility bills.”