New Insurance Benefit for UNA Members

07 July 2015 Published in News & Updates

We are excited to offer our members two great options to expand your employee benefits program. UNA and Beehive Insurance are partnering with Colonial Life and Allstate to include supplemental insurance options to compliment the UNA Group Health Insurance Plan. These voluntary benefits help nonprofit employers offer employees more flexibility in their benefits program.

What Is Voluntary Insurance?

Also referred to as supplemental insurance, voluntary means the insurance is offered in addition to an employer's core or standard benefits. Employers can offer core benefits plus a menu of voluntary products to give their employees an enhanced benefits program. Employees can then create a benefits package that helps meet their specific needs. Employees choose and pay for voluntary benefits and the premium is typically deducted from their paycheck. It should be noted that voluntary policies, similar to other types of insurance, have limitations and exclusions. This means that some conditions many not be covered. Employees should always carefully consider whether a particular policy meets their specific needs.

Types Voluntary Insurance available to UNA Members

• Accident Insurance – helps protect against the unexpected, including significant out-of-pocket expenses that may not be covered by major medical insurance.

• Short-term Disability Insurance – helps protect an employee's most valuable asset: their ability to earn an income. This insurance replaces part of an employee's income if they are disabled because of a covered injury or sickness.

• Critical Illness Insurance – supplements major medical coverage to help with the high costs of critical illness treatment.

• Whole Life Insurance – often called permanent life insurance, whole life insurance can help provide life-long protection for employees and those who depend on them. Colonial's Whole Life Insurance provides guarantees – cash value, premium rates and death benefit.

The Advantages of Voluntary Insurance

In addition to choice and affordability, voluntary insurance offers the following features.

• Flexibility in using claim payments - You can use claim payments any way you wish to pay deductibles, co-payments, co-insurance and other non-covered costs associated with unexpected accidents or sicknesses. With medical costs rising every year, assistance from voluntary policies can help with the unexpected expenses that may result from these accidents or sicknesses.

• Portability - For most policies, employees may take their individual voluntary coverage with them if they change jobs or retire.

• Intact Coverage - The provisions of an individual voluntary policy don't change if an employee chooses to port their coverage. Policyholders maintain the same protection and coverage whether you are employed or not.

pdfAllstate Product Portfolio

pdfColonial Life Product Portfolio

To learn more about supplemental insurance for your organization contact Todd Valentine of Beehive Insurance tvalentine@beehiveinsurance.com or 801-743-7788

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