Although we don’t like to think about it, sudden accidents and deaths happen every day, destroying families or resulting in a long road to recovery alongside high medical bills.
You can offer financial assistance to your plan members and their families through our various life insurance and accidental death and dismemberment solutions.
Help your plan members feel secure in knowing that in the event of their death or the death of a dependant, financial support will be available. The lump sum payout allows the family to cover funeral costs and any outstanding debts they may have.
Employee term life insurance
You can offer coverage for your plan members. Benefits are paid to the beneficiary upon a plan member’s death, regardless of the cause of death. Various benefit levels are available.
Dependant term life insurance
You can offer protection to your plan members’ spouse and eligible dependants.
Optional term life insurance
Our optional term life insurance allows employees under 65 years old the option to purchase additional coverage at lower rates to meet their specific needs.
Group life insurance conversion
If a plan member’s, or their spouse’s, group life insurance coverage ends or is reduced, they may be eligible to convert to an individual life insurance policyOpens in a new window without providing medical evidence of insurability.
If you choose to offer this solution to your plan members, learn more about its features and/or complete the group life conversion privilege notification form and provide it to your plan members.
Accidental death and dismemberment
Accidents can happen in an instant—but the results of an accident can last a lifetime.
Our accidental death and dismemberment (AD&D) coverage provides your plan members with added financial security if they are faced with sudden and tragic circumstances.
AD&D insurance provides plan members with financial support in the event of:
- An accidental death
- The accidental dismemberment of part or all of a limb (for example, hands, feet, arms, legs, fingers or toes)
- Loss of sight, hearing or speech
- While benefit amounts can vary from plan to plan, typically the principal sum is payable for the loss of life, both hands or feet, or sight
- Fractions of the principal sum are payable for other losses (3/4 for the loss of a limb, 1/2 for speech or hearing, and 1/4 for the fingers of one hand)
- Benefits are paid directly to the plan member (or to the beneficiary designated by the employee in the case of loss of life)
Voluntary AD&D insurance allows plan members to buy additional coverage. The plan member must be under age 65 at the time of issue and coverage ends at age 71.
Looking for more information?
We have specialists around the country who can help develop solutions that fit your needs.