|
Colonial Supplemental Insurance
- for what happens next
Colonial Life's
Supplemental Insurance Creates a win-win for both employers and
employees.
| What is
Supplemental Insurance? |
| Sometimes referred to as voluntary insurance,
supplemental means the insurance is offered in addition to an
employer's core or standard benefits. It
should be noted that supplemental policies, similar to other
types of insurance, have limitation and exclusions. This means
that some conditions may not be covered. |
| Types of
Supplemental Insurance |
- Disability
Insurance - helps protect you most valuable
asset: your income. This insurance replaces part of your
income if you are disabled because of a covered injury
or sickness.
- Supplemental
Life Insurance -
complements employer-provided life insurance. Products
may include term, whole or universal life ...
- Accident
Insurance - helps protect against the
unexpected, including significant our-of-pocket expenses
that may not be covered by major medical insurance.
- Hospital
confinement insurance - can help fill the
gaps in major medical coverage to help pay for
hospital-related expenses including co-payments and
deductibles.
- Cancer and
critical illness insurance - supplement major
medical coverage to help with the high cost of cancer or
critical illness treatment. Some plans offer screening
benefits that encourage regular health exams.
|
| Advantages
of Supplemental Insurance |
- Flexibility
in using claims payments- You can use the
claims benefits any way you wish. Payments can be used
to pay deductibles, co-payments, coinsurance and other
non-covered costs associated with unexpected accidents
or sickness.
- Portability
- If you leave your employer, you can take your
individual supplemental coverage with you - unlike most
group insurance products...
- Intact coverage
- The provisions of an individual supplemental policy
don't change when you leave a job, whether the move is
made voluntarily or not. As a policyholder, you maintain
the same protection and coverage whether you are
employed or not.
- Continued
convenience - Many employees
especially appreciate the convenience of paying premiums
for supplemental benefits through payroll deduction -
there are no checks to writ and no premium payment
deadlines to remember. If you leave your job, you can
usually continue that convenience simply by changing the
payment method to direct billing.
|
|
|
|
