Page 3 - Product Summary of Colonial Life_Neat

Know the facts

about individual and group products

While many newer entrants to the voluntary benefits industry
may focus on group products, an experienced carrier that offers
both individual and group products can help you better meet
employees’ diverse needs.

Colonial Life is one of America’s Best Companies for Customer
Service1 with more than 75 years of experience developing
supplemental insurance products and delivering highly-rated
service to our accounts and policyholders. We give you the
freedom to select from our group and individual product
offerings, and we can enroll all products on the same platform.

Individual and group products overview

Pros Cons
n Employee-owned n May have stricter underwriting
Individual n Portable n Possibly higher rates
Guaranteed renewable in most states
n
Limited rate flexibility
n
n
No account-level rate increases; rate stable
n No participation requirements
Group n Employer-owned n Group-level rate increases
Same benefits for multi-state accounts; situs state
n
n
Some port or convert at higher rates
Flexible underwriting with guarantee-issue options
n
n Rate flexibility n Minimum participation requirements common
Colonial Life insurance portfolio Individual products Group products Guaranteed-issue options available 2
Accident n n n
Cancer n n n

Critical illness n n n
Dental n n
Hospital confinement indemnity n n n
Term life n n n
Whole life n n
Short-term disability n n n

Talk with your Colonial Life benefits representative about strengthening your competitive

advantage with our comprehensive product portfolio.
1 Newsweek magazine, 2019.
2 Account and case size limitations apply. See your benefits representative for complete details.
Products vary by state and may not be available in all states.
Insurance products underwritten by Colonial Life & Accident Insurance Company, Columbia, SC
©2020 Colonial Life & Accident Insurance Company. All rights reserved. Colonial Life is a
registered trademark and marketing brand of Colonial Life & Accident Insurance Company. 6-20 | 100795-4