Life and Accidental Death and Dismemberment
Preparing for the unexpected is the foundation for life coverage. Life insurance provides employees with peace of mind knowing they are protected through life's most difficult times.
Help your employees feel secure knowing their families can be taken care of financially if they or a dependent passes away.
The following options are available:
- Basic and optional Life Insurance
- Dependent Life Insurance
- Accidental Death & Dismemberment
Basic and Optional Life Insurance
If you select basic Life Insurance:
- Coverage is provided for employees only
- Benefits are paid to the beneficiary selected upon the employee's death
- Various benefit maximums are available
- Benefit schedules are based on either flat amounts, or a percentage of salary
Optional life insurance makes it possible for employees to leave a little extra for their loved ones, after they pass away. If optional Life Insurance is selected:
- Employees may increase their existing insurance coverage, to ensure their individual needs are met
- Employees can elect to cover just themselves, just their spouse, or both
Dependent Life Insurance
If you select dependent Life Insurance:
- Employees, spouses and dependent children are covered
- The benefit is paid in a lump sum, regardless of the cause of death
- Coverage is offered only in conjunction with basic and/or optional life insurance
Conversion privilege
If an employee no longer has group coverage, he or she may convert from a group plan to an individual plan. Evidence of insurability is not required if:
- the application is made within 31 days from the termination date
- the application is made before the 65th birthday
Accidental Death and Dismemberment
Accidents can happen. When they do occur, Accidental Death and Dismemberment coverage provides financial support to employees in the event of an accidental death or accidental dismemberment of part or all of a limb (for example the loss of feet or fingers).
With Accidental Death and Dismemberment insurance, employees or their loved ones could benefit from:
- Repatriation
- Alterations to their home
- Modifications to their vehicle
- Education for dependent children
- Occupational training for the spouse