HEALTHCARE
Critical Illness Plan
Extra financial support if you are diagnosed with a serious medical condition.
Financial protection for serious illness
M&T Bank offers the Critical Illness Plan through Aetna. If you're diagnosed with a covered serious illness, the plan pays a cash benefit directly to you.
How the plan works
Critical illness insurance provides a lump-sum cash benefit up to $10,000 following a covered critical illness diagnosis. Payments are made directly to you and can be used for medical expenses, household bills, travel costs or other financial needs. Benefits are paid in addition to any other insurance you may have.
You pay the full cost of coverage through automatic, after-tax payroll deductions. You can enroll yourself, your spouse or domestic partner and your dependent children. Review 2027 healthcare premiums.
| Overview | |
| What’s Covered | Covered illnesses and conditions include (but are not limited to) heart attack, stroke, cancer, coronary artery bypass surgery, kidney failure and other covered serious illnesses. |
| Benefit Amount | The plan pays a lump-sum cash benefit of up to $10,000 if you or your spouse or domestic partner is diagnosed with a covered critical illness. Dependents are eligible for 50% of the benefit amount. You can use the payment however you choose, and it pays in addition to any other insurance coverage. Benefit amounts vary by covered condition. |
| Additional Features |
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| Cost of Coverage | You pay the full cost of coverage through after-tax payroll deductions. Rates are based on age, coverage tier and tobacco-use status. |
| Portability | If you leave M&T Bank or retire, you can take your coverage with you. |
Understand your health screening benefit
The Critical Illness Plan pays you $50 when you and your covered family members get a health screening. The benefit is paid one time for each family member per plan year. If you enroll a family of four, you can get $200 each plan year.
No-cost coverage is available
M&T will provide Critical Illness Plan and Accident Plan coverage at no cost if you enroll in the Basic HDHP and earn less than $100,000 per year.