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Products & Services
Voluntary Group Products*
With voluntary group products, you can provide employees the opportunity
to purchase additional coverage at group rates to meet their individual
needs.
How It Works
If employees choose to purchase voluntary insurance, they pay the full cost
of the premiums, which you deduct from their paychecks. You can offer your
employees the following products on a voluntary basis:
- Term life. Employees can purchase additional term life insurance
at group rates for themselves or their spouses. Term life insurance coverage
is also available for children.
- Accidental death and dismemberment. This insurance provides
a lump sum benefit paid for a death or dismemberment due to accident
only. Plans offer 24-hour protection on or off the job. Individual or
family plans are available.
- Short-term disability. This coverage provides monthly benefits
to replace income lost due to disability, with a choice of six plan designs
and benefit amounts up to 60 percent of covered wages.
- Long-term disability. This coverage provides monthly benefits
to replace income lost due to disability. Four plans are available, with
benefits beginning after 90 or 180 days and benefit amounts up to 60
percent of covered wages. Long-term disability plans require a two-employee
minimum participation.
- Dental plans. This insurance allows employees to purchase
comprehensive dental coverage at group rates, with a choice of two benefit
plans and three coverage levels. Dental plans require a two-employee
minimum participation.
Highlights
- Greater employee choice and control. Employees have the ability
to purchase the insurance products that meet their individual needs at
competitive group rates.
- Enhanced benefits package. Voluntary group products allow
you to offer employees valued coverage without incurring the cost of
the benefits.
* Products underwritten by Fort Dearborn Life Insurance Company |
