ReliaStar joins with Westport Benefits to offer new group serious illness insurance product.

ReliaStar Life Insurance Company, Minneapolis, MN, announced it has joined with Westport Benefits, Westport, CT, to develop a new group "stand alone" product called Serious Illness Coverage (SIC), a new insurance product designed specifically for employers with 200 ore more employees.

ReliaStar says SIC is aimed at addressing a growing need for additional liquidity in the event of a serious medical condition. SIC pays the insured a lump sum cash benefit upon diagnosis of a variety of covered illnesses such as organ transplants, kidney failure, life-threatening cancer, heart attack, and stroke. The company says SIC does not require the insured to be diagnosed as terminal in order to receive the benefit. The cash benefit can be used for any purpose by the insured.

Westport Benefits will administer all aspects of the program-including communication and enrollment, billing/payroll deduction, and claims processing. ReliaStar says national marketing of SIC has already begun. Interested employers and brokers should contact: Jay Power, Westport Benefits - (800) 617-1110, ext. 4723.

Contact: Robert Way - (973) 744-5051