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Taking care of the ones you love.
Overview
Basic Life Insurance is available to all employees working a minimum of 30 hours per week and participating in the Builders Benefits health insurance program.
Here are just a few highlights:
- Life Insurance amount of $10,000.00
- Accidental Death & Dismemberment (AD&D) included
Age reductions apply as follows...
- Benefit effective date mirrors the effective date of the health insurance
- Benefits reduce to $6,500 at age 65
- Benefits reduce to $1,000 at age 70
- Monthly cost is $2.35 per employee and is only available in the amount of $10,000 Life/ADD.
Overview
Supplemental life products, with an emphasis on flexibility and choice, are becoming increasingly more popular as an added benefit to employee benefit programs. This low cost coverage helps employees plan for their future and manage the financial consequences of the unexpected — like serious accidents, illnesses or injuries.
The Builders Benefits program offers member firms between 1-19 employees a number of options for Life and Accidental Death & Dismemberment. Members with 20 or more employees have even greater flexibility and choice.
Here are just a few highlights:
- Low Group Cost
- $50,000 Non-Medical Issue Limit
- Waiver of Premium
- Living Benefit Providing 50% of Life Benefit for Terminally ill patients
- Conversion Privilege
Plan Options
Option I:
A flat benefit amount greater than or equal to $10,000, not to exceed $50,000
Option II:
Class 1 - $50,000 - owners, officers, senior management
Class 2 - $10,000 - all others
Option III:
1 x annual salary rounded to the next higher $1,000 to a non-medical maximum of $50,000 or $100,000 with medical.
Overview
Today, many employers sponsor benefits that their employees can choose and pay for. Voluntary Life Insurance is a cost-effective way for employers to offer employees an opportunity to purchase enough insurance to cover their family's needs.
Together, Builders Benefits and UNUM Life Insurance have developed a voluntary life insurance program designed to meet an employee's need for protection and financial security.
As long as an employee enrolls within 30 days of the effective date of the group's health care coverage, they can select up to $100,000 of coverage for themselves, $50,000 of coverage for spouses and $10,000 of coverage for children with no physical examination requirement.
Here are just a few highlights:
- Lock-in Insurability
- Waiver of Premium
- Accelerated Benefit
- Education Benefit
- Survivor Support Counseling
- Portability
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