FAQs

  1. Why is it so important for me to apply during this initial enrollment?

    Guarantee Issue (GI) ages 19 through 70 - (No Medical Questions for employees up to $150K in Life Insurance including $300K in Long Term Care Insurance) during this initial enrollment. Modified GI for spouses / domestic partners – (one qualifying question) during this initial enrollment.

    For employees: If one elects any amount of Life / LTC during this initial enrollment, one can apply for additional coverage in $25,000 increments of Life Insurance, $50,000 LTC with no health questions annually (up to GI limits and associated age requirements) if still actively at work with your employer.

  2. What does this policy provide for coverage?

    This coverage combines the benefits of both Life Insurance protection for your family along with Long Term Care benefits, which can be utilized to help pay for services such as home healthcare, adult day care, assisted living facilities and nursing home expenses. Long Term Care is personal care - help with everyday activities such as bathing and dressing (also known as "Activities of Daily Living”) and/or care for severe cognitive impairments like Alzheimer’s Disease or Dementia.

  3. What is the difference between Long Term Care and Long-Term Disability insurance?

    Long Term Care insurance helps cover the cost of a nursing home, assisted living, adult day care or home health care if you become unable to care for yourself. Long Term Disability insurance replaces a portion of the income you will lose if you are unable to work because of an injury or illness. It pays for your lost income. Unlike disability insurance, Long Term Care insurance does not end when one retires – it remains active into retirement, provided premiums are paid.

  4. Can I add my spouse to this employer's offering?

    Yes, spouses/domestic partners are eligible if the employee applies for coverage. If the employee does not apply for coverage, the spouse is ineligible.

    A spouse/domestic partner can elect 50% of the employee coverage up to $25k in Life Insurance including 50K in Long Term Care with one qualifying medical question.

    A spouse/domestic partner can elect 100% of the employee amount up to $112,500 with additional medical questions.

    If your spouse/domestic partner also works for this employer, one should apply for coverage as an “employee” (not as a spouse) to qualify for Guarantee Issue underwriting (no health questions).

  5. How much life insurance can I purchase and how is my monthly Long Term Care benefit calculated?

    The employee life insurance options range from $5,000 up to $225,000. Up to $150,000 in life insurance may be elected during this initial enrollment with no medical questions through age 70.

    The monthly Long Term Care benefit is 4% of the death benefit and can be used for homecare and/or facility care for up to 50 months. For example, a $50,000 policy provides a $2,000 monthly Long Term Care benefit up to $100,000 in total Long Term Care benefits.

  6. Is the death benefit guaranteed to remain the same?

    Your death benefit is guaranteed through age 120. The death benefit is 100% guaranteed for the longer of 25 years or age 99. Any reduction, never greater than 50% in death benefit (after age 99 or 25 years, the longer of) will result in a corresponding decrease in the monthly Long Term Care benefit.

  7. Can I take my coverage with me if I were to leave work or retire and, if so, do the rates change?

    This is permanent life insurance designed to last a lifetime. Should you leave your employer or retire, you can keep your coverage at the same cost and benefit levels.

  8. When I start receiving LTC benefits, does the death benefit decrease as each monthly LTC benefit is paid out?

    Yes, the death benefit is accelerated (reduced) to pay each monthly LTC benefit. For example, a $50,000 policy provides a $2,000 monthly LTC benefit, so after the first monthly LTC benefit is paid, the net death benefit would be $48,000. This depletion of the death benefit continues as LTC benefits are paid however once the death benefit is reduced to 50%, not to exceed $50,000, the death benefit does not decrease. See question below.

  9. Does the policy provide a way to “replenish” or restore my death benefit as LTC benefits are paid?

    Yes, all coverage includes 50% Restoration of Death Benefits. Once the death benefit falls below 50% of its original value, it is restored to 50% of its original value up to a maximum of $50,000.

    For Example: $100,000 in coverage would pay $4,000 per month in LTC benefits ($100,000 x 4%). If the insured received $24,000 or 6 months of LTC benefits ($4,000 per month x 6 months = $24,000), the net death benefit would be $76,000. If the insured then died, $76,000 in life insurance proceeds would be paid to the beneficiary. Alternatively, if the insured had received $52,000 or 13 months of LTC benefits ($4,000 per month x 13 months = $52,000), the death benefit would be restored to 50% of its value or $50,000. If the insured were to die, the policy would pay $50,000 in life insurance benefits.

  10. How is my rate determined?

    This insurance offers unisex rates based on your age (as of the effective date), nicotine usage, and coverage level selected.

  11. How will I pay my monthly premiums?

    Your premiums will be automatically deducted from your personal checking or savings account each month. There is no payroll deduction. Credit cards are not allowed for payments.

  12. Are the premiums pre-tax or post-tax?

    The premiums are paid post tax.

  13. Do premiums continue when on LTC claim?

    The plan has Waiver of Premium, which means that while you are receiving LTC benefits, all premiums are waived.

  14. Am I able to review my plan and return it to the insurance company if I am not 100% satisfied?

    The Certificate holder may, within 30 days after the Certificate is delivered, return the Certificate to the Carrier’s Administrative Office, and receive a full refund of any premiums that have been paid. Once returned, the Certificate will be void from the effective date.

  15. Can my rates increase?

    Life insurance premiums are guaranteed and cannot increase. LTC rates are subject to change.

  16. Can I increase my coverage later?

    You can request to increase your coverage later with Simplified Issue underwriting. If approved, you will be issued a second life insurance policy based on your current (attained) age.

    For employees through age 70: If one elects any amount of Life / LTC during this initial enrollment, one can apply for additional coverage in $25,000 increments of Life Insurance, $50,000 LTC with no health questions annually (up to GI limits) if still actively at work. Cumulative amounts are up to $150,000 in life insurance and subject to guarantee issue maximum ages and limits.

  17. What if I enroll in the plan and I change my mind?

    The Certificate holder may, within 30 days after the Certificate is delivered, return the Certificate to the Carrier’s Administrative Office, and receive a full refund of any premiums that have been paid. Once returned, the Certificate will be void from its beginning.

  18. Can the plan provide LTC benefits for care provided by unlicensed/informal caregivers such as family or friends?

    Care must be provided by licensed professional providers.

  19. Where does the plan pay for care?

    If you qualify for LTC benefits, where you receive care is up to you (e.g., Home Care, Assisted Living/Memory Care, Adult Day Care or Skilled Nursing Homes).

  20. Will the plan pay for care outside of the US?

    The plan will pay LTC benefits for care or services received in the United States or its territories only. Death benefits are paid anywhere in the world.