6 - What About Group Insurance

Question 1

What are the 6 ways group life is available?

Answer 1

1. Term Insurance
2. Dependent Life Insurance
3. Survivor Income Benefit Insurance
4. Optional Group Life Insurance
5. Accidental Death and Dismemberment Insurance (AD&D)
6. Creditor Group Insurance

Question 2

What is Short-Term Disability?

Answer 2

Income insurance for short-term illness. Elimination period 0 days for accident, 8 days for sickness. Benefit is set as % of pre-disability salary (usually 66.67%). Benefit period 15 weeks-24 months.

Question 3

What is Long-Term Disability?

Answer 3

Income insurance for long-term disability. Benefits begin when STD benefits end.

Question 4

What 5 things does group extended health care (major medical) cover?

Answer 4

1. Ambulance services
2. Prescribed drugs
3. Private-duty nursing
4. Appliances, such as back braces and artificial limbs
5. Diagnostic services

Question 5

What 4 things do group dental plans cover?

Answer 5

1. Preventative (basic), diagnostic, and emergency endodontic and periodontic procedures
2. Restorative and surgical procedures
3. Prosthodontic procedures
4. Orthodontic procedures

Question 6

What does vision care cover?

Answer 6

It covers a set amount towards the purchase or replacement of glasses/contact lenses.

Question 7

What does AD&D cover?

Answer 7

Lump sum for death, partial for partial dismemberment.