Basic Term Life

Basic group term life insurance is a core employer-paid benefit that helps demonstrate your clients’ concern for their employees’ financial stability and that of their families. AD&D may be included in your clients’ life insurance policy.

With HumanaLife, your clients can offer these valuable benefits without increasing their benefits budget significantly. For groups with two or more eligible employees, the minimum employer contribution is 50 percent of premium.

These plans are available as stand-alones or in conjunction with medical and dental plans.

Why should your clients offer Basic Term Life Insurance?

After medical and dental, the benefit your clients want to offer most is life insurance. The demand for life insurance is understandable. According to a LIMRA International survey:

  • Almost a quarter of U.S. households have no life insurance protection
  • If the primary wage-earner died, about 22% of households admit they would immediately have trouble meeting everyday living expenses, and 26% would have difficulty only a few months after

Humana’s Small Group Basic Term Life Plans

Our group term life plans for 2–99 groups are level term insurance policies, so they offer protection for a specified period of time and pay a death benefit to the beneficiary. Term policies don’t accrue cash value. The AD&D benefit amount is the same as the basic life coverage selected.

Available coverage:

  • Flat amounts in $1,000 increments
  • Multiples of salary rounded to the next $1,000
  • Class schedules: no more than 2.5 times between the classes, and 10 times between the highest and lowest class
  • Minimum coverage is $15,000 for groups with fewer than 100 employees
  • Maximum coverage is the lesser of six times annual salary or $1 million, combined with voluntary life coverage

Plan provisions:

  • Guaranteed issue amounts with no medical underwriting for eligible employees, spouses, and dependent children
  • Waiver of premium for employees who become disabled
  • Guaranteed conversion to a whole life plan in certain circumstances
  • Living benefit (accelerated death benefit) for employees diagnosed with a terminal illness
  • Optional portability for voluntary life
  • Optional coverage for riders, including a childcare and education benefit

Choose Humana for great service

We make life insurance coverage easy. If your clients offer Humana medical coverage, we can integrate life and other specialty plans, giving them and their employees a seamless experience. In addition, members receive excellent service when they have a claim. Humana’s specially trained staff handles every claim; there are no automated voice systems. They personally guide members through the process and help deliver money quickly. Claim forms are available electronically if families prefer.

When your clients offer Humana’s life insurance, they’re helping protect the finances of their employees’ families. But more importantly, they’ll be taken care of properly.

Get a quote for Humana Basic Term Life
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