Page 20 - Optima Tax EE Guide 01-20 AZ

Supplemental Benefits

You may purchase additional insurance from Colonial Life that will help to cover additional out-of-pocket
expenses. These policies offer direct-to-the-policyholder cash payouts to help cover what other insurance doesn’t.
Your premiums can be paid through payroll deductions on a before or after-tax basis depending on the plan
coverage selected. These Colonial Life policies are portable, which means that you can keep them should you
change jobs or retire, with no increase in premiums.

Colonial Life | Disability Insurance Colonial Life | Critical Illness Insurance
Disability insurance replaces a portion of your Critical Illness insurance complements our medical coverage
income if you become unable to work due to a by providing a lump sum benefit you can use to help pay the
covered injury or sickness. This plan is direct and indirect cost related to a covered critical illness
customizable, so you may select the level of such as heart attack, stroke, major organ failure, end stage
coverage that is right for your individual needs. renal (kidney) failure, cancer, permanent paralysis due to a
covered accident, coma, blindness, and more. This plan also
Colonial Life | Accident Insurance pays benefits if you receive a wellness screening performed
Accident insurance helps offset the unexpected from their list of covered screenings.
medical expenses, such as deductibles, copays,
transportation, and other expensed that can Colonial Life | Hospital Confinement
result from a fracture, dislocation, or other Indemnity Insurance
covered accidental injury. Six plan choices with Hospital Indemnity provides a lump sum benefit for hospital
varying benefit amounts and three optional confinement and outpatient surgery to help offset the gaps
riders are available. caused by copays and deductibles in major medical plans.

Colonial Life | Cancer Insurance Colonial Life | Term, Universal &
Cancer insurance helps offset the out-of-pocket Whole Life Insurance
medical and indirect expenses related to cancer You are offered the opportunity to purchase, Term,
that most medical plans may not cover— Universal, and/or Whole Life Insurance to provide financial
estimated to be 65% of the total cost of security for your family members.
treatment! This plan also pays a benefit if you
incur a charge and have one wellness test • Term Life remains level for the period of time you
performed from their list of covered tests. Four select—10, 20, or 30 years
levels of coverage are available. • Universal Life offers a flexible premium, and adjustable
death benefit that accumulates cash value based on
current interest rates
• Whole Life Insurance is an individually owned plan with
guaranteed level premiums, guaranteed cash values, and
a guaranteed death benefit

For More Information
Contact Peter Crosby of Colonial Life by calling
(858) 673-6995 or via email at
peter.crosby@coloniallife.com.

20 Employee Benefits