Critical Illness Insurance from Aflac

2020 and 2021 Plan Year Information

What Employees Are Saying

“Having cancer wasn’t easy. But at least I didn’t have to worry about covering the cost of things like transportation to chemo, extra care for the kids and household expenses. Buying Aflac Critical Illness Insurance helped me through.”

Critical Illness Insurance from Aflac

You can win the battle against a critical illness, but can you handle the added cost? Your medical coverage will help you with a large portion of medical expenses associated with treatment of a critical illness, but what about the out-of-pocket costs for medical expenses such as deductibles or copays? Aflac’s Critical Illness Insurance provides a lump-sum benefit directly to you in the event of a critical illness diagnosis, including:

  • Bone Marrow Transplant (Stem Cell Transplant)
  • Cancer
  • Coma
  • Coronary Artery Bypass Surgery
  • Heart Attack (Myocardial Infarction)
  • Kidney Failure (End-Stage Renal Failure)
  • Loss of Sight, Speech, Hearing
  • Major Organ Transplant
  • Non-Invasive Cancer
  • Paralysis
  • Severe Burn
  • Stroke
  • Sudden Cardiac Arrest

As a Morgan Stanley employee, you have the option to purchase Critical Illness Insurance coverage of $20,000 or $30,000. Your spouse can also enroll in coverage, and your children are automatically covered at 50% of the selected coverage amount that you elect. Learn more.

When Can You Purchase Coverage?

  • During Annual Enrollment, typically held each fall
  • Within 31 days following a Qualified Life Event (marriage, birth, adoption, etc.)*
  • Within 31 days of joining the Firm or becoming benefits eligible

*You may enroll in Aflac coverage as a result of the QLE. However, the coverage will only be effective from the effective date established by Aflac and will not be effective retroactively back to the date of the QLE.

Plan Features

  • Benefits are paid directly to you, unless you choose otherwise – the money is yours to use as you please.
  • Coverage is available for you, your spouse and dependent children.
  • Coverage is generally portable, so you can take it with you if you change jobs or retire.
  • Most claims are paid in about four business days.
  • Rates are generally locked in at the time you purchase the policy (two-year rate guarantee) and are based on several factors including coverage election, covered person (employee or spouse), age and tobacco use.

How This Insurance Works with Medical Coverage

Both Critical Illness and Supplemental Accident Insurance policies from Aflac complement your other coverage. For example, if you are considering Option C under the Medical Plan, you could purchase one or both of these supplemental insurance options as another way to manage Option C’s higher deductible if you or a family member faces a critical illness or accident. You could put the money you save on contributions in Option C toward the premiums for these supplemental insurance policies and/or contribute to a Health Savings Account.

Unlike traditional medical coverage, the payments you receive from these supplemental insurances aren’t tied to your medical bills and there are no rules on how you can use the money. Depending on your election, you’ll select a coverage level by lump-sum amount (Critical Illness) or treatment-based benefits (Accident) that pay over time. All claims are submitted to Aflac directly and decided by Aflac in its sole discretion.

Did You Know?

Have an annual health screening and receive $50 each calendar year.

Semimonthly Rates (24 payments a year)

Premium rates are provided at time of enrollment and are based on several factors including plan election, covered person (employee or spouse), age (at date of issue), amount of coverage elected and tobacco use.

Rates by age for Non-Tobacco Employee or Spouse: $20,000 of coverage

  • Ages 18-29: $4.70
  • Ages 30-39: $7.31
  • Ages 40-49: $13.75
  • Ages 50-59: $26.24
  • Age 60+: $49.68

Rates by age for Non-Tobacco Employee or Spouse: $30,000 of coverage

  • Ages 18-29: $6.68
  • Ages 30-39: $10.59
  • Ages 40-49: $20.24
  • Ages 50-59: $38.98
  • Age 60+: $74.14

Rates by age for Tobacco Employee or Spouse: $20,000 of coverage

  • Ages 18-29: $6.38
  • Ages 30-39: $11.08
  • Ages 40-49: $21.26
  • Ages 50-59: $41.97
  • Age 60+: $77.17

Rates by age for Tobacco Employee or Spouse: $30,000 of coverage

  • Ages 18-29: $9.19
  • Ages 30-39: $16.25
  • Ages 40-49: $31.51
  • Ages 50-59: $62.57
  • Age 60+: $115.38

Premiums shown are accurate as of publication. They are subject to change.

Plan Details

Base Plan

With cancer benefit
$50 health screening benefit
$250 skin cancer benefit
With additional benefits
(Loss of sight, speech, hearing)
(Coma, burns, paralysis)

Riders

Optional benefits rider (BTAP)

Provisions

No pre-existing condition limitation
Additional occurrence waiting period: 6 months
Reoccurrence waiting period: 6 months
Standard portability
Rate guarantee: 2 years

Group Attributes

Situs state: Delaware
Eligible lives: 51,000

Note

Coverage is underwritten by Continental American Insurance Company (Aflac).