Supplemental Whole Life Insurance

Supplemental Whole Life Insurance

Whole Life Insurance coverage, which is provided by Colonial Life, gives employees additional options as they consider their life insurance needs and strategy.

Guarantee Issue (GI) will be available to all employees with the following face amounts:

  • Age 18-50, $150,000;
  • Age 51-60, $75,000; and
  • Age 61-79, $25,000.

 

The benefit would pay a lump sum death benefit, builds guaranteed cash value and is paid for with level premiums that never increase (endows at age 100). Active full-time non-students and their dependents may be eligible to purchase supplemental whole life insurance on a payroll deduction basis. (Active full-time non-student employees are eligible if the most recent appointment period is continuous for a minimum of one year (nine or twelve months as appropriate to the appointment)

To purchase coverage or for additional information, contact Jodi Skaggs with Premier Worksite Solutions at jskaggs@pwsal.com or (205) 588-2604.

Last updated: 02/07/2020