Page 18 - Product Summary of Colonial Life_Neat

Term Life Insurance
Benefit flexibility
( Accounts with 10 - 499 lives; accounts
with 500+ lives have additional options ) benefits are included in the plan offering. AD&D suites feature several benefits designed to
Attractive underwriting
Family coverage options
Competitive features
Talk with your benefits
representative to learn more
about group term life.
ColonialLife.com
Our group term life plan is designed to help employees
and their families during high-need years.
Owning a home. Raising children. Planning for retirement. No matter what your
employees’ goals are, when you include our group term life plan in your benefits
package, you’re giving them options to help cover final expenses from an unexpected
death and lessen future financial strain for those left behind. There’s also an option
for employers who want to pay for all or a portion of employee premiums.
„ You choose the offering by:
– Deciding how premiums will be funded.
1. Basic option: Employer may pay 100% of the premium or a portion of the
premium (50 – 95% in 5% increments)
2. Supplemental or voluntary option: Employee pays 100% of the premium
– Selecting face amount design (multiple of salary or flat/incremental).
– Adding Waiver of Premium and Accidental Death & Dismemberment (AD&D) benefits.
– Including up to two optional AD&D suites (one if basic option selected), as long as AD&D
meet specific market needs:
1. Catastrophic suite 3. Family suite 5. Malicious intent suite
2. Occupational disease suite 4. Travel suite
„ Based on the offering, employees (to age 99):
– Select face amount(s) for self and spouse/dependent children, if included in plan offering.
– May choose to purchase an optional AD&D suite, if made available in their plan offering.
„ Face amounts up to five times salary ($500,000 maximum).
„ Guaranteed issue options available based on participation for accounts with 10 or more
eligible employees.
„ Spouse and dependent children’s coverage available when employee purchases own certificate
(available only with supplemental or voluntary option).
„ Situs state „ Accelerated Death Benefit due to terminal illness
„ Broad issue age ranges, up to 99 „ Convertible to an individual whole life insurance policy,
„ Composite rates for basic option without proof of good health, to age 85
(census required) „ Portable, with employer option of proof of good health
„ Step-rated rates in five-year age bands „ Health Advocate Employee Assistance Program*
for supplemental or voluntary option „ Life Planning Services*
„ Standard two-year rate guarantee
*The Employee Assistance Program and Life Planning Services, provided by Health Advocate, are available with Colonial Life & Accident
Insurance Company’s group term life offering. Terms and availability of service are subject to change. The service provider does not
provide legal advice; please consult your attorney for guidance. Services are not valid after coverage terminates. Please contact the
company for full details.
Product has exclusions and limitations that may affect benefits payable. Benefits and rider options vary by state and may not be
available in all states. See your Colonial Life benefits representative for complete details.
Underwritten by Colonial Life & Accident Insurance Company, Columbia, SC
©2019 Colonial Life & Accident Insurance Company. All rights reserved. Colonial Life is a
registered trademark and marketing brand of Colonial Life & Accident Insurance Company.
GROUP TERM LIFE | 9-19 | 101432-3