Life Insurance

Preparing for the unexpected is the basis of group life and accidental death and dismemberment (AD&D) insurance. Our group life and AD&D plans provide financial support for your plan members and their families in the event of a death or tragic accident.

• Offers various benefit levels for plan members and dependants
• Lets plan members pay premiums through payroll deduction
• Lets plan members add extra coverage

 
Life insurance "creates cash" for needs such as:

• funeral & burial charges
• probate fees
• taxes at death
• income replacement
• mortgage
• children's education
• wealth & estate creation

• Coverage is provided for plan members only
• Benefits are paid to the appointed beneficiary upon a plan member's death, regardless of the cause of death
• Various benefit levels of up to $500,000 are available (with a combined maximum of $1 million for all life and accidental death and dismemberment coverage)
• Benefit level formulas are based on either specific amounts, or multiples of salary

• Plan members’ spouses and dependent children are covered
• The benefit is paid in a lump sum, regardless of the cause of death
• The benefit is designed to pay for the insured's last illness and funeral expenses, not to replace the deceased's future lost income
• Coverage is offered only in conjunction with employee term coverage

• Plan members may increase their existing insurance coverage, at low group rates, to reflect their individual needs
• Plan members can elect to cover just themselves, just their spouse, or both
• The plan member and spouse must be under age 65 to be eligible