Life Insurance

Ensuring an employee’s family is financially protected in the event of a loss is an important way of caring for their needs. Life Insurance can help.

Here's How it Works

There are several plans available to employees, including both Whole and Term Life Insurance policies. Securing a life insurance policy may help provide them with peace of mind knowing it will help take care of their family after they’re gone.

Here's How It Works

  • Minimal health questions and no medical exams

  • Spousal coverage also available

  • Death benefit is guaranteed for the life of the policy, provided premiums are paid as required

  • Employee may receive a portion of the death benefit if they are diagnosed with a terminal condition

  • Interim Coverage1 for death is issued immediately after the life insurance application has been signed and

    underwriting guidelines have been met

  • Death benefit amount is generally paid tax free2

Products may contain limitations, exclusions and waiting periods and may not be qualified benefits under Section 125 Plans.

1Interim coverage for death will be in force from the date your application is signed if on such date the proposed insured is insurable per our underwriting guidelines for the requested coverage in accordance with the terms of the policy. This interim coverage will remain in force until the earlier of: 1) the date a policy becomes effective; 2) the date we decline the application; or 3) the date we notify the proposed insured that they are ineligible for interim coverage. The employee and/or spouse must remain actively at work during the interim coverage period. If the death of the proposed insured occurs during the interim coverage period, the first month’s premium will be subtracted from the policy proceeds. Interim coverage is only for death benefits under the base policy, Children’s Term Rider and Spouse Term Rider (Term Life only). No interim coverage benefits are available under any Waiver of Premium Rider, Accidental Death and Dismemberment Rider, Accelerated Benefit Rider for Critical Illness (Whole Life only. Rider is not approved in CT.), or Accelerated Benefit Rider for Long-Term Illness (30-year Term and Whole Life only. Rider is not approved in CA, CT.).

2Please consult your tax advisor for your specific situation.

ESB-6212-1017