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Voluntary Individual Universal Life Insurance
The Voluntary Individual Universal Life Insurance
is no longer available for new policies, but coverage
continues through payroll deduction for employees
currently enrolled. If you are interested in additional
life insurance coverage, see the links on the left for
Interest Sensitive Whole Life and Term Life Insurance.
If you have existing policies and want to
increase/decrease your coverage, make other changes, or
have questions, please contact our office.
For additional information read the brief descriptions
of some of the plan highlights below, view the PDF
brochures or call us and we will gladly mail them
to you.
AFFORDABLE OWNERSHIP AND PORTABILITY:
UnumProvident’s
Voluntary Individual Universal Life Insurance can give
you the insurance protection you need, while also giving
you the financial flexibility you want. This policy is
designed to provide a death benefit to your
beneficiaries if you pass away in addition to the term
life insurance coverage CHS may already be providing for
you.
POLICY OWNERSHIP AND PORTABILITY:
UnumProvident’s universal life insurance is
individual voluntary coverage and you are the owner
of your policy. Also, your policy is portable, which
means when you leave the company, you can take it
with you and still pay the same premium. UnumProvident
will bill you directly at home.
LIVING BENEFIT OPTION RIDER:
This feature is automatically included for all eligible
employees and spouses between the ages of 15 and 79
and children/grandchildren ages 14 days through 24
years for no additional premium. It provides the option
of requesting up to 75% of the policy's death benefit,
to a maximum of $150,000, if the insured is diagnosed
with a medical condition limiting life expectance
to 12 months or less. If you have to face a terminal
illness, this option can provide additional financial
assistance during a difficult time.
ADDITIONAL COVERAGE OPTIONS
Automatic Increase Rider
As an employee, you can add the Automatic Increase
Rider to your supplemental universal life policy.
By doing so, you automatically set up as many as five
consecutive annual additions to your insurance protection
– without having to fill out new forms or provide
evidence of your health each year.
Long Term Care Rider
The Long Term Care Rider is designed to provide you
access to your policy’s death benefit to help
cover expenses related to long term care. This rider
is automatically included on all adult policies with
a base policy face amount of $10,000 or more.
This is a brief description of the coverage available
to you and your family and does not replace actual
policy provisions, conditions or exclusions.
1-888-859-7555
csr@americasinsuranceadvisors.com
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