Enhanced Benefits
Supplemental Group Products
Our supplemental group products include the following options:
Our supplemental group products include the following options:
Critical illness insurance pays a lump sum directly to an insured employee diagnosed with a life-threatening illness covered under the plan. The lump sum paid under the Restore critical illness benefit is totally under the control of the employee and can be used to help with living expenses such as mortgage payments, loans and childcare while the insured is seriously ill. Colina is the first insurance company in The Bahamas to provide this benefit.
Restore Critical illness insurance is an excellent complement to your company’s Group Health Plan, offering an attractive lump-sum payment solution for employees to offset the additional financial burden associated with developing a serious illness.
While Disability Income Insurance is also known as Income Protection Insurance to provide a monthly income replacement if your employee becomes disabled and can no longer work, it is usually tied to a certain percentage of a salary, is subject to ongoing review of the condition, and ceases once the employee is no longer considered totally disabled. Critical Illness Insurance, on the other hand, provides a lump-sum payment on diagnosis of a critical illness and will not be affected if the employee recovers from their illness.
Critical illness coverage is limited benefit supplemental coverage and is not intended as a substitute for medical insurance. While medical insurance is an essential tool geared primarily toward settling physician, treatment and medication costs, there are no restrictions on how the money from a Critical Illness policy can be used. Restore Critical Illness insurance fills the gaps in your company’s overall financial protection plan.
A plan that’s right for your company
Colina offers two Group critical illness insurance plans – Core and Enhanced:
| Covered Condition | Core Plan | Enhanced Plan |
|---|---|---|
| Heart attack | ||
| Cancer | ||
| Coronary artery bypass | ||
| Stroke | ||
| Renal failure | ||
| Alzheimer’s Disease | ||
| Aorta surgery | ||
| Benign brain tumour | ||
| Coma | ||
| Multiple sclerosis | ||
| Blindness | ||
| Deafness | ||
| Paralysis | ||
| Severe burns | ||
| Parkinson’s Disease | ||
| Heart valve replacement | ||
| Loss of limbs | ||
| Loss of speech | ||
| Motor neuron disease | ||
| Major organ transplant | ||
Pre-existing conditions exclusions apply
For more information or to request a proposal, contact our Health Division at +1 (242) 396-5100.
Disability coverage pays covered employees a monthly benefit, for a covered illness or injury, when they are unable to work for a period of time because of a total disability. Colina will only pay benefits for covered disability expenses in accordance with the Schedule of Benefits found in the employer’s Group Insurance Coverage Booklet and other applicable provisions of the employer’s group insurance policy.
In the event of the death of a covered Employee, Colina will pay the proceeds of the Life Insurance benefit to the employee’s named beneficiary(ies) or trustee, upon receipt of proof of claim satisfactory to the Company, and in accordance with the Schedule of Benefits found in the employer’s Group Insurance Coverage Booklet and other applicable provisions of your employer’s group insurance policy. Life insurance coverage is also available to dependents. The Employee is automatically the beneficiary for their Dependent(s) Life insurance benefit, if applicable.
In the event the covered employee’s death is a direct result of an accident, Colina will pay the proceeds of the AD&D benefit to the employee’s named beneficiary(ies) or trustee, in addition to the Life insurance benefit, upon receipt of proof of claim satisfactory to the Company, and in accordance with the Schedule of Benefits found in the employer’s Group Insurance Coverage Booklet and other applicable provisions of your employer’s group insurance policy. AD&D coverage is not available to dependents.
Our Dental plans cover basic and preventative treatment, oral surgery, restorative and orthodontic treatment and more. Colina will only pay benefits for a covered employee’s dental expenses in accordance with the Schedule of Benefits found in the employer’s Group Insurance Coverage Booklet and other applicable provisions of your employer’s group insurance policy. Dental insurance coverage is also available to dependents.
Our Vision plans cover eye examinations, eye glasses and lenses, and contact lenses. Colina will only pay benefits for a covered employee’s Vison expenses in accordance with the Schedule of Benefits found in the employer’s Group Insurance Coverage Booklet and other applicable provisions of your employer’s group insurance policy. Vison insurance coverage is also available to dependents.
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