EB Products Flashcards
Accidental Death & Dismemberment
An insurance product sold along with a life insurance policy that covers the unintentional death or dismemberment of the covered employee. This is sometimes called a Traditional or Basic plan, and it can be offered on a contributory or non-contributory premium basis.
Administrative Services Only
A service OneAmerica provides to a policyholder for a fee when they have a self-funded short term disability plan. The employer acts as the insurer and bears all the risk for claims. OneAmerica provides administrative services such as processing claims and billing.
Advice to Pay
A service OneAmerica provides to a policyholder for a fee when they have a self-funded short term disability plan. The employer acts as the insurer and bears all the risk for claims. OneAmerica advises the employer on a claimant’s eligibility for disability benefits, as well as the duration of payments to the claimant.
CorePlus Long Term Disability - Core
An insurance policy that protects an employee from loss of income if they are unable to work due to illness, injury, or accident for a long period of time. This is typically sold in conjunction with a Plus, or buy-up plan, is usually non-contributory, and offers the employee a modest level of protection.
CorePlus Long Term Disability - Plus
An optional insurance policy that protects an employee from loss of income if they are unable to work due to illness, injury, or accident for a long period of time. This is sold as a contributory buy-up option in conjunction with a Core plan. The employee must request this coverage and is responsible to pay the premium.
CorePlus Short Term Disability - Core
An insurance policy that protects an employee from loss of income if they are unable to work due to illness, injury, or accident for a short period of time, usually 26 weeks or less. This is typically sold in conjunction with a Plus, or buy-up plan, is usually non-contributory and offers the employee a modest level of protection.
CorePlus Short Term Disability - Plus
An optional insurance policy that protects an employee from loss of income if they are unable to work due to illness, injury, or accident for a short period of time, usually 26 weeks or less. This is sold as a contributory buy-up option in conjunction with a Core plan. The employee must request this coverage and is responsible to pay the premium.
Dependent Accidental Death & Dismemberment
An insurance product sold along with a life insurance policy that covers the unintentional death or dismemberment of the covered spouse or child of an employee. This is sometimes called a Traditional or Basic plan, and it can be offered on a contributory or non-contributory premium basis.
Dependent Term Life
An insurance policy that provides a benefit in the event of the death a covered spouse or child of an employee. This is sometimes called Traditional Dependent Life or Basic Dependent Life, and it can be offered on a contributory or non-contributory premium basis.
Dependent Supplemental Accidental Death & Dismemberment
An optional insurance product sold along with a life insurance policy that covers the unintentional death or dismemberment of the covered spouse or child of an employee. It is typically offered on a contributory premium basis. This is an older product and is no longer actively sold.
Dependent Supplemental Term Life
An optional insurance policy that provides a benefit in the event of the death a covered spouse or child of an employee. It is typically offered on a contributory premium basis. This is an older product and is no longer actively sold.
Dependent Voluntary Accidental Death & Dismemberment
An insurance product sold along with a life insurance policy that covers the unintentional death or dismemberment of the covered spouse or child of an employee. The employee must request this coverage and is responsible to pay the premium.
Dependent Voluntary Term Life
An optional insurance policy that provides a benefit in the event of the death a covered spouse or child of an employee. The employee must request this coverage and is responsible to pay the premium.
Employee Assistance Program
A voluntary, work-based program that offers free and confidential assessments, short-term counseling, referrals, and follow-up services to employees who have personal and/or work-related problems.
Term Life
An insurance policy that provides a benefit in the event of the death a covered employee. This is sometimes called a Traditional or Basic plan, and it can be offered on a contributory or non-contributory premium basis.
