Sometimes a pre-determined plan doesn’t fit the needs of every employee. That’s why employers are offering a broader range of voluntary products as a way to entice diverse job candidates and retain good workers. USAble Life can help by offering products to help employees customize their coverage.
Provides coverage to eligible employees in increments of $10,000 up to $300,000 on both employee and spouse. Eligible child coverage of $5,000 or $10,000 is also available.
Voluntary Group Term Life (VGTL) is available to eligible employee's whose employer has sponsored the plan and has provided for premium payments to be made through payroll deduction. A group contract is issued to the sponsoring employer.
| Eligibility |
• Actively at work, at least 20 hours per week for the employer;
• Under age 70 on the effective date of the covered employee's coverage; and
• Satisfy the waiting period set by the employer, of not less than 30 days. |
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| Employee Amount |
Elected in increments of $10,000 to a maximum of $300,000.
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| Dependent Coverage |
Spouse - may purchase coverage in $10,000 increments to a maximum of $300,000.
*Children - may purchase coverage for either $5,000 or $10,000 for all eligible dependent children.
*Coverage amounts may be limited by the laws of the state of issue |
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| Accelerated Benefit |
This benefit applies to those employees who have a terminal illness, as defined in the terms and provisions of the group policy. The benefit allows a covered person to receive part of his insurance while still living. The amount payable to the insured can be as much as 50% of the life insurance amount.
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| Waiver of Premium |
If an employee terminates employment before age 60 because of total disability, which continues for at least 6 months during which time premiums are paid, his life insurance may be continued while totally disabled without payment of premiums to age 65.
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| Reductions or Termination |
If actively at work on a full-time basis, VGTL benefits reduce 33 1/3% of the pre-age 65 amount at ages 65 and 70 and terminate at retirement. Spouse coverage terminates on the earlier of the date the eligible covered spouse is no longer eligible for coverage, the date he reaches age 65 or the date your employment with the group policyholder terminates. VGTL coverage for eligible dependents terminates on the earlier of the date they are no longer an eligible dependent or the date employment with the group policyholder terminates, whichever occurs first.
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| Continuation of Insurance |
The covered employee may continue their's and their spouse’s coverage if the employer has chosen the portability benefit option and if on the date the employment terminates:
• covered for a minimum of 12 months; and
• not disabled; and
• either:
a) not retired; or
b) are retired and are under age 65.
Dependent children are not eligible for the portability benefit option, but their coverage may be converted to an individual policy when they are no longer eligible for coverage. |
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| Termination |
Ported coverage will terminate if premiums are not paid within 30 days of due date, on the date the Group Trust Policy terminates or when the insured reaches age 70. Conversion is available.
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Additional details will be provided upon request.
DISCLAIMER: This is a brief description of the products offered by USAble Life. These descriptions are for informational purposes only. Products and provisions described may not be available in all states. Specific provisions may vary by state. The policy contains a complete description of benefits, provisions, limitations and exclusions. In the event of a conflict between this description and the policy, the policy will prevail.