Our Group Term Life and Accidental Death & Dismemberment Insurance program offers many combinations of coverage options to meet both Employer and Employees’ insurance needs. Employers can elect to purchase basic coverage for their employees, such as a multiple of salary benefit or a flat amount. They can also offer a Voluntary plan where employees choose the benefit amount they wish to purchase, often without needing to provide evidence of good health. These products may be offered together or on a stand-alone basis.
Standard Life Provisions:
- Flexible Benefit Schedules
- Competitive Plan Maximums
- Dependent Coverage available for both Spouse and Children
- Waiver of Premium – life insurance is continued without premium payments for employees who become totally disabled.
- Accelerated Death Benefit – available to insured employees with a life expectancy of 12 months or less allowing them to collect a percentage of their life insurance benefit early and the remaining benefit is then payable to the beneficiary.
- Portability – offers insured employees and their dependents the opportunity to continue their life insurance upon leaving employment while Boston Mutual bills for premium directly to the former employees.
- Conversion – allows insured employees and their dependents to convert their term life insurance to a permanent life policy without evidence of insurability within 31 days of termination from employment.
- Bereavement Counseling – provided by our counseling partner Health Management Systems of America offers toll-free counseling services to all beneficiaries.
Standard Accidental Death & Dismemberment Provisions:
- 24 hour coverage
- Education Benefit – this benefit payable in the event of an insured employees’ accidental death. This benefit provides each qualified dependent a percentage of the employee’s life insurance for up to four years.
- Seat Belt Benefit – an additional 50% of the AD&D benefit is payable if the insured’s death is the result of an automobile accident while the insured was wearing a properly secured seat belt.
- Repatriation of Remains Benefit – payable up to $5,000 to cover expenses occurred to return the body if the insured’s accidental death occurs 100 miles outside of his/her primary residence.
Group life policies are underwritten by Boston Mutual Life Insurance Company (Canton, MA) in all states, except New York, under Policy Form Series BML GRTP 4/99, subject to state availability. Product offerings may vary depending on state laws and regulations. This information is not intended to be a complete description of the insurance coverage available. Policies have exclusions and limitations which may affect any benefits payable. For complete details of coverage and availability, please refer to the policy form or contact your Boston Mutual representative.
Value-added services are not insurance and are offered only on specific lines of coverage. Boston Mutual is not responsible or liable for care, services, or advice given by any provider or vendor of the Services. Boston Mutual reserves the right to discontinue any of the Services at any time.