Transamerica Life Insurance Company

 

This is a brief summary of CriticalAssistance Advance^SM, Critical Illness Insurance underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa. Policy form series CPCI0400 and CCCI0400. Forms and form numbers may vary. Limitations and exclusions apply. Refer to the policy, certificate and riders for complete details.

Gives you the comfort to recover with confidence while helping with the financial strain a serious illness can cause.

 

Critical Illness Insurance pays you a lump sum benefit you can use for whatever you wish. So you can ease your worries and concentrate on getting back on your feet. Use your lump-cash payment for whatever helps the most: deductibles, ongoing household bills, in-home caregivers, mortgage or rent, family visit, or anything else you may need.

All regular employees working 20 hours or more per week and eligible family members.

 

Eligible family members are defined in the Participating in Healthcare Benefits section of our Summary Plan Description.

As a new hire, you can enroll for guaranteed issue coverage during your new hire enrollment period. Outside of the new hire enrollment period, you can enroll for guaranteed issue coverage during Stryker’s annual enrollment period or within 30 days of a qualifying life event.

Thanks to Stryker’s group rates, you could pay less for this insurance than you would for individual insurance you’d find on your own. See rate chart above for more information.

When you leave or retire from Stryker, you can continue your insurance without interruption, subject to applicable law and the policies' terms and conditions. Although payroll deduction will no longer be available if you retire or leave Stryker, you can opt for other payment methods such as direct checking or bank account deduction, credit card billing or home billing. Higher rates may apply.

 

Upon receiving notice of an employee's termination status from Stryker, Transamerica will generate a portability letter that will outline options to continue coverage and pay premiums directly to Transamerica.

Once you’re enrolled in this insurance, benefits will be paid if you have a heart attack, cancer, stroke, major organ transplant, end stage renal failure or are diagnosed with heart or coronary artery disease. For a comprehensive list of eligible conditions, see 2023 Plan Summary.

Each and every different critical illness and cancer can be paid on with no total benefit limit. You are also eligible for a second payout for a recurrence of the same critical illness as long as the diagnoses are at least 12 months apart (12 months treatment free for Cancer). $15,000 is the annual maximum (100% total benefit) payout per critical illness, and some illness are covered at a benefit percentage under 100%, meaning they are not eligible for the full $15,000 payout.

 

Diagnosed Covered Illness	Total Benefit %	Benefit Paid
Skin cancer	5%	$750
Alzheimer’s	30%	$4,500
Heart attack	100%	$15,000
Heart attack (6 months after first heart attack)	100%	$0 (due to recurrence within 12 months)
Cancer	100%	$15,000
Total Potential Claim Benefit*		$35,250

 

^*Treatment and claim benefit amounts are for illustration purposes only. Actual benefit amounts will vary based on your individual diagnoses submitted.

Rates are set up based on age range. Your rates may increase January 1^st the year following a birthday, if the birthday moves you to a new age range. Example: July 22^nd an employee turns 30, effective January 1^st employee’s cost will move from 25-29 age range cost, to 30-34.

For limitations and exclusions, please refer to the 2023 Plan Summary