Voluntary and Group Life, Short & Long Term Disability Products Now Available!

Remember that the MBPA and MFBA now offer outstanding Companion Life and Disability Products.

Companion Life continues to lead the industry in offering innovative benefit designs for group and voluntary life and disability products. More employers are adding life and disability products to their portfolio of available employee benefit plans.

Life and disability coverage options are an easy and cost-effective way of providing additional financial security for employees without adding to the employer benefit cost.

Companion’s Short Term Disability Buy-up Plan is an economical, simple solution that provides both employers and employees an array of options. By combining a core level of income protection, with the opportunity to purchase additional coverage, both employers and employees benefit.

Voluntary Program Highlights:

Voluntary Short Term Disability

• Rates are based on entry level age bands (enrollment age freeze).
• All SIC codes are eligible.
• Includes $10,000 of Accidental Death and Dismemberment (AD&D) at no additional cost.
• Eight different plans and 13 benefit levels to choose from.
• No evidence of insurability is required if the employee is at work on the effective date of coverage.
• Maximum weekly benefit not to exceed 66 2/3% of basic weekly earnings to a maximum of $750.00.
• Coverage includes a partial disability benefit to support a recovering employee’s return to full potential through part-time work

Voluntary Long Term Disability

• Non-contributory, premium is to be 100% Employer Paid
• 2 Year Rate Guarantees
• Attained Age Rating for groups of 1-9 lives (No Entry-Age Freeze)
• 2 Year “Own Occupation”, thereafter “Any Occupation”
• “Pre-X” for 1-9 Lives 12/6/24
• 2 Year Mental and Nervous Limitation (Unless Hospital Confined)

Voluntary Life

• Generous Voluntary Life Maximums and Guarantee Issue limits.  Employees are eligible for a maximum of $500,000 of Group Term Life Insurance and Spouses are eligible for $150,000.
• All SIC Codes are eligible.
• Dependent child benefit options range from $2,500 to $10,000.
• Accelerated benefit provision pays up to 75% of the benefit in the event of a terminal illness ($100,000 maximum).
• Waiver of premium if you become totally disabled.
• Portability and Conversion Privileges.

Group Program Highlights:

• Guarantee issue Life options for all size groups – Even One Subscriber Groups
• No Ineligible Industries for group Short and Long Term Disability.
• Group Short and Long Term Disability for groups as small as one.
• Online Administration guarantees no monthly billing fees.
• Easy online grid rates and calculator for groups less than 10 employees. No need to wait for a formal proposal.
• Entry Age Rating for employers with 1 to 9 enrollees ensures that as employees age, their rates do not.
• Generous guarantee issue and flexible benefit design for your clients with 10 or more employees.
• Higher Commissions – flat 15% for groups with 20 or less enrolled.

 Click Here to review Companion Products