Life / AD&D

What is needed to quote:

• Name of Group
• Address
• Nature of Business
• Number of Years in Business
• Schedule of Benefits
• Census – gender, date of birth, if applicable – class, salary, dependent life election
• Current Rates / Booklets (if applicable)
• Three Years of Claims Experience for groups of 500 or more employees

Schedule of Benefits

Life

• Flat benefit amount
• Function of Salary  (1, 2, or 3 X Salary)
• Employer Paid or Contributory
• Dependent Life Benefits for Spouse and Children
• Employer can choose alternate benefit options

Accidental Death & Dismemberment

• Typically matches the Life Benefit
• Provides an additional benefit if death is due to an accident
• Provides a benefit to the employee for the loss of vision, hearing and/or limbs
• Employer can choose alternate benefit options

Benefit to providing this coverage to employees

• Guaranteed coverage for all employees regardless of health conditions (groups of 10 or more employees)
• Accelerated benefit options for terminally ill employees
• Provides financial security to the employee’s family in the event of a death
• Conversion if an employee leaves employment they are able to take the Life insurance with them