Critical Illness Insurance

Help at every step of the way.

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Give us a call at (888) 987-9594 or fill out the form below and an agent/producer
will contact you directly.

What is critical illness insurance?

Critical illness insurance covers cancer, heart attack, stroke and end-stage renal failure. Plus, it can also help save you money on health expenses for conditions such as Alzheimer's disease, blindness, paralysis, coma, transplant surgery/waiting list, amputation and deafness. We offer a variety of different coverage options, based on your areas of concern and need for specific coverage.

How would you pay for critical illness expenses?

If you have a heart attack, stroke, or are diagnosed with cancer or Alzheimer's disease, all your expenses may not be covered by private health insurance or Medicare. Your share of the treatment costs—and everyday expenses—may quickly add up. Lessen your family’s financial burden with Bankers Life critical illness insurance. This policy provides you a lump-sum cash benefit if you're diagnosed with a covered illness, so you and your family can focus on your recovery, not your finances.

Your payment goes directly to you

You can use your lump-sum benefit to pay for any of the following:

Insurance shortfalls

Insurance shortfalls

Deductibles, co-payments, benefit limitations

Special expenses

Special expenses

Transportation, lodging, family care, special diets

Living expenses

Living expenses

House payments, utilities, groceries

Loss of income

Loss of income

If you or your spouse are unable to work, or caring for another family member

Critical illness insurance policy options

Critical Benefit®

Pays you cash benefits if you're diagnosed with:

  • Cancer
  • Heart attack
  • Stroke
  • End-stage renal failure
  • Coronary artery bypass graft
  • Angioplasty

Critical Benefit PLUS®

Pays you cash benefits if you're diagnosed with:

Any condition covered under Critical Benefit

PLUS Critical Conditions coverage (optional rider)

  • Permanent blindness
  • Permanent paralysis
  • Coma
  • Major organ transplant–surgery
  • Major organ transplant–active waiting list
  • Diabetic amputation above the ankle
  • Alzheimer’s (when unable to perform two activities of daily living [ADLs])
  • Permanent deafness

Features and benefits of critical illness insurance

Renewability for life

Renewability for life

Your policy will remain in force for life or until all your policy benefits have been exhausted, if you pay premiums on time. Premium rates may change on a class basis.



Because lump-sum cash benefits are paid directly to you, not a doctor or hospital, you have no restrictions on how you use your benefits.



This allows you to keep your policy, even if you change jobs, retire or go on Medicare.

Choice of benefit amount

Choice of benefit amount

Choose a lump-sum cash benefit in the amount of $10,000, $20,000, $30,000, $40,000, $50,000, $60,000 or $70,000 to meet your coverage needs and budget.

Issue ages

Issue ages

Coverage is available for people ages 18 to 85 without an optional rider and up to age 75 for policies with an optional rider.

Return of Premium optional rider

Get your money back if you don't use your coverage!

Return of Premium optional rider refunds 100% of the premium you paid, less any claims incurred, if your policy and rider remain in force for 20 policy years. You do not need to surrender your policy and this rider to receive this benefit.

Hypothetical example*

James Murphy, age 55, is buying a $30,000 cancer, heart attack, stroke and end-stage renal failure policy with the Return of Premium rider. The premium is $700 a year with no claims paid through the age of 75.

Age 55

Bought policy

Age 75

$14,000 Paid back to James! Protection now. Money back later.

Age 75

Policy continues at base rate

Use this money however you choose—take a trip, buy a car or leave a legacy.

*Hypothetical example solely demonstrating how the optional Return of Premium rider works given continuous coverage for 20 years with the stated assumptions. No representation or guarantee of future premiums or results.

There is an additional cost for optional rider. Rider may be subject to underwriting and state availability. See agent for complete description and rules of each rider, including limitations and exclusions.

How do I know if I’m eligible for critical illness insurance?

Step one in obtaining critical illness insurance is completing an application. Our underwriters will review your medical history to determine if you’re approved for a plan. Your premium amount will be determined by the amount of insurance coverage you request, your age, tobacco classification, and what type of policy you request.

Call (888) 987-9594 or visit get a quote to learn what plan you may be eligible for.

Why Bankers Life?

Simplified application process

Our knowledgeable insurance agents/producers sit down with you in your home to understand your preferences and goals. They’ll provide you with simple, clear choices that meet your individual financial needs.

Personalized approach

With a history dating back to 1879, there are some things that never change. At Bankers Life, that means taking a personalized approach to helping the individuals and families we serve. As you enter and navigate retirement, we will be by your side every step of the way, helping to protect your financial security.

Service you can trust

Our agents/producers live in the communities they serve and travel to your home or business. Our goal is to provide excellent service to every policyholder and make your life easier when it comes to your claims.

Bankers Life is accredited by the Better Business Bureau with an A+ rating as of March 2023, in addition to receiving an A (Excellent) rating by A.M. Best Company for our financial strength.