PROTECTION WHEN IT’S NEEDED MOST

When employees are able to help protect their finances and loved ones, they can worry less and focus on what’s important. That’s why Transamerica’s voluntary benefits offer the financial assistance they need while working toward a healthier, more secure future.

When a critical illness strikes, Transamerica’s critical illness indemnity insurance can help with costs major medical may not cover — helping employees protect their savings, avoid debt, and maintain their quality of life.

OFFER MORE PROTECTION WITH CRITICALEVENTS®

CriticalEvents is a valuable voluntary benefit option to offer your employees.

This critical illness indemnity insurance pays a benefit directly to the employee to use however they need it — helping pay for out-of-pocket medical expenses, daily living costs, or child care while they recover.

Offering optional riders provides even more benefits for your employees. You can even motivate employees to spot health problems early with a wellness benefit rider that encourages getting a health screening test.

CRITICALEVENTS HIGHLIGHTS:

No lifetime benefit maximum No waiting period

Benefits paid directly to the employee

Streamlined billing and self-administration without the need to reconcile at the policy level Easy payroll-deducted premiums

Family options available Fully convertible Guaranteed issue available

See Product Details for more details

Let us do the lifting. We save valuable employer and broker time by handling reconciliation and by offering simplified and streamlined billing freeing up time to focus on business. Plus, employees are less likely to encounter issues during claims.

About CriticalEvents®

Critical Illness Indemnity Insurance

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EMPLOYEE ELIGIBILITY

To be eligible for insurance, an employee must be 18 years or older and:

be actively employed, performing all regular duties at the place of business or another location directed by the employer; and

be continuously employed and meeting the minimum hourly and time requirements for benefit eligibility. These requirements will be defined on the Life and Health Group Application and Agreement.

not be covered by any Title XIX program such as Medicaid.

SPOUSE ELIGIBILITY

To be eligible for insurance, a spouse must be 18 years or older and:

be a legally married spouse, a New Jersey civil union partner, or a civil union partner entered into outside of New Jersey which provides substantially all of the rights and benefits of marriage and is valid under the laws of the jurisdiction in which the civil union relationship was entered;

not be covered by any Title XIX program such as Medicaid.

CHILD ELIGIBILITY

To be eligible for insurance, a child must be under the age of 30 and is: a child by blood, marriage, or civil union;

is unmarried or unpartnered;

has no dependent of their own;

is a resident of the state of New Jersey or is enrolled as a full-time student at an accredited public or private institution of higher education;

not be covered by any Title XIX program such as Medicaid.

If applicable, child will also include children of the employee's other adult dependent in the same manner as a stepchild.

MINIMUM PARTICIPATION

At least 2 insured employees are required to establish and maintain an employer group. Other group types may require higher participation.

UNDERWRITING LIMITS FOR GROUPS WITH 985 BENEFIT-ELIGIBLE EMPLOYEES

Guaranteed issue underwriting is only available the first time an employee is eligible to apply. If the employee applies for insurance at a later date, it’s subject to simplified issue underwriting.

OTHER CONSIDERATIONS

This proposal is based on employer groups with 985 eligible employees only and may not be available to other group types or sizes.

Employees residing in California, Georgia, Massachusetts, Minnesota, or Vermont are required to have a major medical plan in order to apply. Insurance cannot be issued to anyone who does not have a major medical plan.

A Vermont proposal needs to be generated for employees residing in Vermont if: More than 25% of employees reside in the state of Vermont; or

Face-to-face solicitation will be performed at a workplace in the state of Vermont Impacted employees should enroll in Vermont approved insurance.

Product Detai l s

CriticalEvents critical illness indemnity insurance pays employees a lump-sum benefit to help cover expenses associated with a covered critical illness. The type of illness and care received determines payout amounts.

CriticalEvents insurance is a voluntary policy intended to supplement the major medical insurance in your benefits package.

City of Hoboken

Effective Date of Coverage: 10/1/2023 Issue State:NJ

Critical Illness Benefits: Heart Attack, Severe Stroke, End-Stage Renal Failure, Other Specified Organ Failure (Loss of sight,speech, or hearing),Miscellaneous Diseases,Alzheimer’s Disease, Coronary Artery Disease Requiring Bypass Grafts

Optional Riders: Cancer BenefitRider

$ 5,000 Employer Paid Benefit Amount

11/13/19 8:59 AM

Ver. 5

Monthly Premiums

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We do not pay benefits for losses caused by, or as a result of, the insured person's:

Commission of or attempt to commit a felony or the insured person’s engagement in an illegal occupation

Intentionally causing self-inflicted injury

Committing or attempting to commit suicide, whether sane or insane Voluntary involvement in any period of armed conflict

Under no condition will we pay any benefits for losses incurred prior to the effective date.

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CONVERSION OPTION

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If an employee loses eligibility for this insurance for any reason other than fraud or nonpayment of premiums or termination of the group master policy, they will have the option to convert this group insurance to an individual policy we are issuing for the purpose of conversions by submitting an application and the first month’s premium to us within 31 days after loss of eligibility. We will bill the employee directly once we receive notification to continue insurance.

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TERMINATION OF INSURANCE

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Employee insurance will terminate on the earliest of: The date the group master policy terminates

The date an employee ceases to be eligible for insurance

The date of the employee's death

The premium due date on which we fail to receive the employee's premium

The date a written notice that the employee wants to cancel insurance is received

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Dependent insurance will terminate on the earliest of: The date the employee's insurance terminates

The date of the dependent’s death

The premium due date on which we fail to receive the employee's premium The date the dependent no longer meets the definition of dependent

The date the group master policy or certificate is modified to exclude dependent insurance The date a written notice that the employee wants to cancel insurance on their dependent is received

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We may end the insurance of any insured person who submits a fraudulent claim under the policy.

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Termination of the employee's insurance will not affect any claim which begins before the date of termination.

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TERMINATION OF THE GROUP MASTER POLICY

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The group master policy will end on the earliest of the following events:

1. If the policyholder submits an advance written requires to us to terminate the policy, the policy will terminate on the date specified in that request

2. If we give a 60-day advance written notice to the policyholder that we intend to terminate the policy, the policy will terminate on the date specified in that notice

3. If any premium payable by the policyholder is not paid within its grace period, the policy will terminate on the day after the end of the grace period

4. If the policyholder fails to comply with any terms of the policy or the policyholder application; fails to fulfill any obligations or duties under or pertaining to the insurance; or fails to comply with or cooperate with us in satisfying the requirements of any applicable law or regulation pertaining to the insurance; the policy will terminate on the 32nd day after we have given the policyholder written notice of our intent to terminate

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A group policy will not continue if it drops below the minimum required participation. The group master policy will be terminated and insurance of all remaining insureds will end.

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OTHER INSURANCE WITH US

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An employee can only have one critical illness policy or certificate with us. If a person already has critical illness insurance with us, such person is not eligible to apply for this insurance.

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Transamerica Employee Benefits (TEB) is a unit of Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company. TEB markets and administers voluntary insurance benefits through licensed insurance agents. These agents are typically appointed to sell our products, and products of other providers, and receive various forms of compensation from us for the services provided. We believe our compensation arrangements with our agents are conducted with honesty, fairness, and integrity. In addition, we realize that having trusted relationships between our agents and our customers is essential to all involved. To ensure this trust continues and to address any concerns within the industry, we have outlined our policy on agent compensation disclosure.

TEB’s policy supports transparency and full disclosure of agent compensation to our customers and prospective customers. In addition, we have put controls in place to facilitate this disclosure and obligate our agents to disclose compensation information to customers: 1) when asked by a customer;

2) when receiving both a fee from the customer and compensation from TEB; and 3) when otherwise required by law. Agents must comply with all applicable laws in the sale of TEB products, including any pertaining to the disclosure of compensation information.

Up-to-date information regarding our compensation practices can be found in the Disclosures section of our website at tebcs.com.

This is a brief summary of CriticalEvents® critical illness indemnity insurance underwritten by Transamerica Life Insurance Company (TLIC), Cedar Rapids, Iowa. TLIC is not an authorized insurer in New York. Policy Form Series TMCI10NJ-0118 and TCCI10NJ-0118. Forms and numbers may vary. Insurance may not be available in all jurisdictions. Limitations and exclusions apply. Please refer to the policy, certificate, and riders for complete details.

This is a limited policy. It pays a lump sum benefit for specified critical illness only. It does not provide coverage for any other medical conditions. You should maintain separate comprehensive health coverage.

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