Assurity Group Voluntary Term Life Insurance

Group Voluntary Term Life Insurance from Assurity Life ideally works together with employer-sponsored term life with a limited-benefit coverage. Group Voluntary Term Life can provide the additional life insurance coverage needed by employees through a cost-effective, payroll deduction program sponsored by the employer.

Strategic Elements

Flexibility in plan design
Employees select the amount of coverage they need in increments. Coverage amounts may be purchased up to a maximum of 10 times annual salary or $500,000.

Maximum flexibility in pricing
We break premiums down and provide quotes by gender, smoker/nonsmoker-specific, unisex, unismoker or a combination, depending on the needs of the employer. This flexibility makes it quite easy to transfer existing plans where service expectations are not being met.

Portable or convertible
The Group Voluntary Term Life plan is either portable or convertible – the employee decides. Portability would provide the employee the right to transfer to another group plan set up specifically for employees who want to maintain their term insurance coverage. Converting the voluntary death benefit would change the coverage to an individual permanent policy. (Either way, an employee no longer qualifying under the plan may continue their death benefit.)

Accelerated Death Benefit Option
To help ease the financial burden that accompanies a terminal illness, the Accelerated Death Benefit Option allows terminally ill insureds with a limited life expectancy to receive part of their group life insurance benefit while they’re still living.

Critical Illness
Financial burdens are not limited to terminal illness –
certain specified critical illnesses can qualify for benefits under the Critical Illness Rider. Assurity Life will pay a portion of the death benefit if the insured is diagnosed with or under treatment for qualifying conditions.

Optional Features

Waiver of Premium
If an eligible employee becomes disabled and cannot work, Assurity Life will make the premium payments. Accidental Death and Dismemberment and dependent coverage are not included under the Premium Waiver.

Accidental Death & Dismemberment (AD&D)
AD&D provides protection in the event of accidental loss of life or limb. If an insured employee sustains a covered accidental injury, and the injury directly causes a defined loss, then Assurity Life will pay the benefit.

Dependent Coverage
Insured employees have the option to purchase a policy rider providing Group Term Life Insurance for spouses and/or dependent children.

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This policy may contain reductions of benefits, limitations and exclusions. For costs and complete details of the coverage, please contact Assurity Life Insurance Company or ask to review the policy for more information. This brochure provides descriptions of various benefits offered by Assurity Life. Benefits are subject to change without notice. This brochure is not a contract.

Policy Form Nos. G040, G071, G072, G073, G074. Policy and rider availability, features and rates may vary by state.