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Basic Group Products
Wellmark's Basic Group Products include Group Life,
Short Term Disability, Long Term Disability, and Vision. These products
may be employer paid or offered on a contributory basis with the employer
paying a minimum 25% of the premium. At least 75% of eligible employees
must choose to participate in a contributory plan. Basic Group Products
allow an employer to round out the benefit package offered to employees.
The Term Life, Accidental Death & Dismemberment, Short Term Disability,
and Long Term Disability coverages are underwritten by Fort Dearborn Life Insurance Company.
If you would like to receive more information about
Wellmark’s
Basic Group Products, contact your Wellmark representative or e-mail
us.
Term Life Insurance Term insurance at low group rates.
- Lump sum benefit paid for death from accident or illness, on or off
the job
- Guaranteed issue for qualified groups
- Groups must have at least 2 eligible employees
- Convertible to permanent life insurance plans
- Aggressive in-force discount program offered for certain business
takeovers
- Accelerated death benefit available if Basic Life is $15,000 or greater
- Waiver of Premium benefit is included
- Rate guarantees available
- Additional supplemental or voluntary coverage is available
Accidental Death and
Dismemberment (AD&D) Lump sum cash benefit paid for a death or dismemberment due to accident only.
- 24-hour protection on or off the job
- Guaranteed issue for qualified groups
- Additional benefit payable for loss of life in a covered accident
and using a seatbelt
- Rate guarantees available
- Some limitations may apply and include any loss due to suicide or
attempted suicide; see policy for details
Dependent Life Insurance Term life insurance at low group rates for the spouse and dependent children of
employees.
- Lump sum benefit paid for death from accident or
illness
- Guaranteed issue for qualified groups
- Convertible to permanent life insurance plans
Short-Term Disability
Weekly benefits to replace income lost due to disability (and under
the care of a medical provider).
- Choice of elimination periods from first day accident/eighth day
sickness to thirtieth day accident/sickness
- Choice of benefit periods from 13 weeks to one year
- Benefit amounts up to 66 2/3 percent of salary
- Benefits vary depending on type of disability
- Guaranteed issue for qualified groups
- Non-occupational coverage only
- Losses due to pregnancy are covered the same as a sickness
- No coverage for losses due to self-inflicted injury
- Some limitations apply; see policy for details
Long-Term Disability
Monthly benefits to replace income
lost due to disability (and under the care of a medical provider).
- Monthly benefit amounts up to 70 percent of salary
- Choice of benefits payable for two or five
years, or to age 65
- Benefits begin after 30, 90, 120, 180 or 365 days
- "Own occupation" definition of
disability available, for periods of two years, three years, five years
and to age 65
- Guaranteed issue for qualified groups
- Rate guarantees available
- Partial disability, recurrent disability, and
other benefits available
- Some limitations may apply; see policy for details
Vision Programs
Four benefit programs available.
- Discount card (materials only)
- Discount card plus annual eye exam benefit
- Fully insured (eye exam and materials)
- Fully insured (materials only)
- For more information, visit www.eyeplan.com
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