Supplemental term life plans
For employees who want coverage above and beyond the basic term life plan, this optional, employee-paid benefit offers additional peace of mind.
Secure even more of your family’s future with a voluntary life policy
Our employee-paid supplemental plans give people more control over how they protect their financial future.
Our supplemental life plans include:
- Guaranteed issue amounts based on the number of full-time eligible employees
- Benefit for death of a spouse until age 65
- Benefit for death of a child ages 15 days to 26 years
- Portability – Employees can take their benefits with them if they leave their employer*
- Waiver of premium – Premiums for a covered person are waived after total disability for 6 months beginning before his/her 60th birthday (until age 65)
- Guaranteed conversion – If an employee or dependent loses coverage due to the employee’s loss of employment, loss of eligibility, or reduction for age, the coverage can be converted to an individual whole life insurance policy
- Accelerated benefit for terminal illness – Benefit of 50% of basic group term insurance (not to exceed $250,000) payable upon proof of terminal illness
- Optional AD&D coverage – Provides compensation in the event of certain disabling accidents or accidental loss of life
*Portability is state-specific and is not available in all states.
Supplemental life plans allow employees to increase their overall life insurance coverage and add on features not included in their employer’s plan. Employees receive group rates and pay premiums through payroll deductions.
Supplemental life plans are available to groups with 5 or more enrolled employees. Here are some of the plan options:
- Employee coverage – A flat coverage amount in $1,000 increments with a minimum of $15,000
- Spouse coverage – $1,000 increments up to 50% of employee amount ($5,000–$250,000)
- Dependent child coverage – $500–$10,000