Life Cover Why your employees need it Every day people face a wide range of risks to their personal wellbeing and lifestyle. Life Cover helps reduce the financial impact of death or terminal illness. Life Cover is designed to provide security for a wide range of financial commitments by paying a lump sum on death. It can be used for a number of purposes including: Reducing or eliminating mortgage commitments. Eliminating personal debt, such as loans or credit cards. Providing a lump sum to fund a family’s future lifestyle in the untimely death of the main provider. If you want to help your employees meet these and other obligations in the event of their death, or provide a lump sum that the...
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OOIDA Group Life Insurance Plan This is a term life insurance plan issued by Puritan Life Insurance Company of America (PLICA). Administrative offices PO Box 11823 Winston-Salem, NC 27116. Rates are based on age and the amount of coverage requested. Members, including eligible spouses or domestic partners, can apply for $10,000 to $250,000 worth of coverage, in increments of $10,000. Spouses or domestic partners who are not eligible members can apply for up to 100% of the amount the primary member has in force in increments of $5,000 (not to exceed $125,000). We also offer a Basic Dependents Term Life coverage ($10,000 for spouse or domestic partner and $5,000 for children) for $11.40 a...
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Group life insurance is a single life insurance policy that covers a group of people. It's often used by employers to cover employees, and by super funds to cover members. Some of the key features of group policies include: Cheaper premiums. Group insurance policies are usually offered at competitive rates thanks to a "bulk discount". Can be added to an employees remuneration. It can be a competitive addition to employee remuneration packages, and can also help protect workers. Can be offered as part of a union membership. Some worker bodies such as unions and associations also offer group life insurance to their members to attract and keep members. Terms can be transferred over. Some group...
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Rancho Cucamonga, California Group Life Insurance California Group Life Insurance is usually offered as part of your employees benefit package and covers an entire group of people. Policies are not based on an individual's lifestyle habits or health factors but the employees are grouped together and rates are based on the risk of the group as a whole. The coverage costs are usually much less than if the employee purchased an individual policy. The advantages to an employer offering Group Life insurance in California include Federal income-tax deductible premiums, fringe benefits to offer new employees and valuable life insurance protection provided at a low group rate. It also contributes...
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Twin Falls, Idaho Group Life Insurance Idaho Group Life Insurance is usually offered as part of your employees benefit package and covers an entire group of people. Policies are not based on an individual's lifestyle habits or health factors but the employees are grouped together and rates are based on the risk of the group as a whole. The coverage costs are usually much less than if the employee purchased an individual policy. The advantages to an employer offering Group Life insurance in Idaho include Federal income-tax deductible premiums, fringe benefits to offer new employees and valuable life insurance protection provided at a low group rate. It also contributes to employee security,...
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Executive Group Life (EGL) is group life insurance coverage designed to help executives and other senior professionals by providing a generally income-tax-free death benefit for their beneficiaries, as well as the opportunity to accumulate account value to meet future needs. Executive Group Life insurance enables most employers to enhance their executive benefits while still minimizing overall benefit costs. As the employer, you can use Executive Group Life insurance to gain a competitive edge through the benefits provided to your executives and senior professionals. Executives can use this type of insurance as a new and valuable tax-deferred accumulation vehicle which can fund "...
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Individuals in the group, up to age 65 years, are covered without proof of insurability, (that is, without medical evidence of good health), up to the “no evidence limit”. Above this limit and after age 65 years, proof of insurability will be required. The Accidental Death and Dismemberment (AD&D) benefit may be added as a rider. This benefit covers losses resulting from accidents and the proceeds paid are determined by the schedule in the policy. Losses mean loss of life or the dismemberment of a part of the body. The AD&D benefit is optional and requires an additional premium. This plan provides peace of mind to both employee and employer through the provision of a...
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§ 3101 Group policies must meet group requirements. Except as provided in § 3109 of this title, no policy of group life insurance shall be delivered in this State unless it conforms to 1 of the descriptions contained in §§ 3102-3108 of this title. A policy may be issued to an employer, or to the trustees of a fund established by an employer, which employer or trustees shall be deemed the policyholder, to insure employees of the employer for the benefit of persons other than the employer, subject to the following requirements: (1) The employees eligible for insurance under the policy shall be all of the employees of the employer, or all of any class or classes...
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