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.
Voluntary Accidental Death & Dismemberment (VAD&D) allows eligible employees to select accidental death and dismemberment benefits that protect income in the event of an unexpected loss due to accidental death or bodily injury. VAD&D provides full 24-hour protection against accidents anywhere in the world and is available to individuals 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;
• Under age 70 on the effective date of coverage; and
• Satisfy the waiting period set by the employer, of not less than 30 days. |
|---|
| Employee Amount |
Elected in increments of $10,000 to a maximum of $300,000.
|
|---|
| 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 |
|---|
| Covered Losses |
• Loss of life - 100%
• Loss of two or more members* - 100%
• Loss of one member* - 50% of the loss of life benefit
• Loss of thumb & index finger (same hand) - 25% of the loss of life benefit
*A member means hand, foot, eyesight, speech, or hearing. If the insured person sustains more than one of the above losses as the result of any one accident, we will pay only the one largest amount to which the insured person is entitled. |
|---|
| Additional Benefits |
• Seat Belt Accidental Death - 10% of loss of life benefit, not to exceed $25,000
• Air Bag Accidental Death - 10% of loss of life benefit, not to exceed $10,000
• Special Education Benefit for spouse and children - up to $2,500 for 4 years
Other benefits may be available upon request. |
|---|
| Reductions |
If the eligible employee is still actively at work on a full-time basis, VAD&D benefits will 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 spouse is no longer eligible for coverage, the date he reaches age 65, or the date employment with the group policyholder terminates. VAD&D 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.
|
|---|
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.