With voluntary term life insurance, your employees have the freedom to select adequate levels of life insurance coverage to protect the well-being of their families. And, since premiums are paid entirely by the employee, there is no additional cost to your company.
Included features
- Waiver of premium – flexible designs for elimination periods, termination and disability definitions
- Liberal benefit maximums and guaranteed issue amounts – options from $10,000 to $500,000
- Living care benefit – options from 25 to 80 percent and $25,000 to $500,000
- Dependent coverage – coverage for spouse and dependent children
- Portability – options for both employee and spouse to easily maintain the features and benefits of their current coverage; ported coverage does not terminate when master policy terminates
- Conversion – option to convert to individual whole life policy
- Grief and healing support – information to help beneficiaries cope with the loss of a loved one
Optional add-ons
- Accidental death & dismemberment – several unique suites including travel, family and catastrophe
- FMLA Administration – full-service assistance with Family Medical Leave Act (FMLA) Administration
- Travel Assistance – help during emergencies away from home
- Employee Assistance Program – Basic and Comprehensive plans available
- Annual Increase Allowance – annual coverage increase of $10,000 without evidence of insurability
Eligibility requirements
- Minimum enrollment of 10 employees or 25 percent of eligible employees, whichever is greater
- All active, full-time employees working 20 or more hours per week
- Lawful spouse, and dependent children from 14 days to 21 years; 25 years if a full-time student
Guaranteed issue amounts
Number of Employees |
20-24 percent of employees enrolled |
25 percent + of employees enrolled |
|---|---|---|
10-99 |
$25,000 |
$50,000 |
100-249 |
$50,000 |
$100,000 |
250-999 |
$75,000 |
$150,000 |
1,000-4,999 |
$100,000 |
$200,000 |
5,000 + |
$150,000 |
$300,000 |
