It’s hard to be fully prepared for a serious illness, but critical illness coverage can help. Offering a choice of two benefit levels, the plan pays a lump sum cash benefit. You can use it to cover deductibles, copays, alternative treatments, and other expenses related to your condition—or to pay for groceries, your mortgage, car payments, child care, or other household bills.
You can also purchase this coverage for your spouse/domestic partner and your dependent children.
This Is Not Medical Insurance
Critical illness insurance can help pay for a variety of expenses, but it’s not a substitute for medical insurance. You’ll still need a medical plan to cover the majority of your medical costs.
What You Need to Know
- You can elect critical illness coverage during Open Enrollment.
- When you’re diagnosed with a serious illness, critical illness coverage provides you with a benefit payment of $15,000 or $30,000, depending on the plan you choose when you enroll.
- You’re covered for up to three times your lump sum benefit level ($45,000 or $90,000) in the event you suffer more than one covered condition.
- Payment(s) you receive are in addition to any other insurance you may have.
- Offered through MetLife, this coverage is 100% employee-paid through paycheck deductions.
- You can keep this coverage even if you leave Lam.
- If you have been treated for or sought advice for a sickness or injury in the previous 12 months before enrolling, your benefits may be limited for that sickness for the first 12 months you are covered by this plan. Other exclusions may apply.
Conditions covered by critical illness insurance include:
- Certain cancers
- Heart attack
- Kidney failure
- Coronary artery bypass graft
- Alzheimer’s disease
- Major organ transplant
- 22 others (see plan details [PDF])
Where to Learn More
See more plan details [PDF].
View the per-pay-period costs for coverage.