Voluntary insurance products
Sometimes one-size-fits-all employee benefit programs don’t quite fit what anybody really wants. Voluntary products let each employee choose coverages and benefit amounts to meet their own needs.
The coverage is employer-sponsored, expanding the range of benefits the employer offers. Employees make their own benefit choices then pay for whatever coverage they select. The employer collects the premiums through payroll deduction, making the employee’s premium payments easy and automatic.
This section includes:
Voluntary group term life insurance
Anthem Life’s voluntary group term life (VGTL) plans offer generous amounts of insurance at affordable rates. Employees can select group term life coverage for themselves, and may also include coverage for their spouse and children. Employee coverage includes waiver of premium and living benefit features.
The employer chooses whether to include accidental death benefits in the VGTL plan offering. If included, each employee is covered for an accidental death benefit equal to his or her voluntary group term life insurance benefit amount.
Our VGTL coverage keeps working for employees even if they move on. Coverage is portable, so employees who leave the company can take it with them. We will bill them at home or automatically deduct each premium from their checking account. It’s an easy and affordable way to buy some peace of mind.
Voluntary disability insurance
As medical costs rise, the need to focus fringe benefit dollars on providing good health insurance coverage has made it increasingly difficult for employers to include disability coverage in their benefit packages. Offering voluntary disability insurance products is an excellent way to keep a company’s benefit package comprehensive, so employees can have protection for both their health and their earnings.
Anthem Life offers voluntary short term disability (VSTD) and voluntary long term disability (VLTD) plans. Today, those products are available in our Western marketing region. During 2003 we will introduce voluntary disability coverage throughout our marketing regions.
Voluntary accidental death and dismemberment insurance
Voluntary accidental death and dismemberment (VADD) coverage is one of the best bargains around. Employees can buy large amounts of protection for themselves and their family, for a very reasonable price, without having to answer health questions to determine their insurability. Currently, Anthem Life’s VADD product is offered only in our Western marketing region.
For additional details, Anthem Life producers should refer to the Producer Toolkit.