Voluntary permanent life insurance can be an ideal complement to the group term and optional term your employer provides. This voluntary life product is yours to keep, even when you change jobs or retire, as long as you pay the necessary premium. The policy offered is underwritten by Chubb, and it has the following features:
Employee Eligibility
Minimum Coverage Limit – The greater of $5,000 or the amount of coverage $3.00/week will purchase
Maximum Coverage Limit – $250,000
Guarantee Issue Amount (no medical questions asked) – $100,000 for ages 19 – 70
Conditional Guarantee Issue Amount (based on satisfactorily answering three medical questions) – $150,000 for ages 19-70
Spouse Eligibility
Minimum Coverage Limit – The greater of $5,000 or the amount of coverage $3.00/week will purchase
Maximum Coverage Limit – $125,000
Conditional Guarantee Issue Amount (based on satisfactorily answering three medical questions) – $75,000 for ages 19 – 70
Simplified Guarantee Issue Amount (based on satisfactorily answering eight medical questions) – $112,500 for ages 19-70
Dependent Child Eligibility
Minimum Coverage Limit – The greater of $5,000 or the amount of coverage $3.00/week will purchase
Maximum Coverage Limit – $25,000
Accelerated Death Benefit Rider for Terminal Illness
After coverage has been in force for two years, employees can receive 50% of their death benefit immediately, up to $100,000, if they are diagnosed as terminally ill.
Accelerated Death Benefit for Long Term Care
When employees need LTC, death benefits can be paid early for home health care, assisted living, adult day care and nursing home care. Early payments equal 4% of the death benefit per month for up to 25 months. Premiums are waived while this benefit is being paid.
Restoration of Death Benefit (50%)
Accelerating the life coverage for LTC benefits can reduce the death benefit to $0. This rider restores the life coverage to 50% of the death benefit, up to a maximum of $50,000 on which the LTC benefits were based, therefore assuring a death benefit available up to the insured’s age 121.
Waiver of Premium Rider
Waives premium if employee becomes totally disabled.
Payor Waiver of Premium Rider
Waives Spouse/Dependent Child premium if employee becomes totally disabled.
Full Portability
Employees can keep their coverage at the same rate if they change jobs or retire.
Level Premium
Life insurance premium will never increase and are guaranteed through age 100. After age 100 no premium is due.
To view the deduction for this valuable coverage and/or enroll in coverage please visit www.forsyth.bswift.com.
To file a claim, please choose one of the options below:
Employees can call 855 241-9891 to file a claim
Claims can be faxed to 603-352-1179
Claims can be sent by email to CLAIMS@gotoservice.chubb.com
Rates will vary by age, smoking, benefits selected and current interest rate, please log into bswift to obtain pricing.