Disability
This is a $150 benefit payable on the DI plan if an accident occurs outside work.
What is a physicians expense benefit?
No benefit will be paid on cancer or dread disease for which, within 12 months prior to the effective date of the coverage, medical advice, consultation of treatment, medications, was received by a member of the medical profession.
What is Pre Existing Condition?
This type of Universal Life that doubles if the covered person were to die in an accident up to the age of 65.
What is Texas Life?
This is a tax shelter that only allow for spending on Dental and Vision due to the possibility of an HSA being part of their plan.
When emailing personal information, SS numbers, benefit information this should always be put in the subject line.
What is [Encrypt]
No premium payments are required while you are receiving payments under the plan after disability payments have been received for 90 days.
What is waiver of premium?
This benefit pays $60, $75, or $90 back annually to the covered person even if they don't have cancer.
What is the Diagnostic and Prevention benefit? (Wellness Benefit)
This is type of the Life is favored by Dave Ramsey.
What is term life?
This is the maximum amount that can be elected for DDC.
What is $5000?
This is the system in which annuity business must occur.
What is Firelight?
No DI Benefit will be payable if the disability caused by or resulting from this condition for the first 12 months of having the policy in place.
What is Pre Existing Condition?
This are options that can be added to the cancer plan to enhance it, first occurrence on cancer, heart attach/stroke as well as ICU.
What are the riders that are options on the cancer plan?
Reduced paid up is a feature built into the this type of life insurance.
What is Whole Life?
This is a tax shelter that is unique because an employee can make changes to the amount they are contributing.
What is a HSA?
Sometimes referred to as a cafeteria plan, is the exclusive means by which an employer can offer employees the opportunity to pay for health and welfare benefits on a pre-tax basis. If the employer does not comply with Internal Revenue Code (IRC) § 125 requirements, employee benefit contributions (usually premiums) will be subject to tax.
What is a Section 125 plan?
Common examples are these: other group DI income, Governmental or other retirement systems, state disability, unemployment compensation, sick leave.
What is off sets with other Sources of Income?
Guaranteed Renewable, you are guaranteed the right to renew your policy/riders during your lifetime as long as you pay premiums when due or within the grace period.
This life insurance has a feature that allows for an owner to pay $150 processing fee to get 92% of the face value if they cannot do 2 of the ADL's
What is Texas Life?
Mid year plans may be changed to a health flex if there is a qualifying event but very important to the employer this will occur.
What is the employer must assume the risk?
***not recommended!
PEERS and PSRS are the two types of this we see in our schools.
What is Missouri retirement system?
If you are disabled and working, you may be eligible to continue to receive a percentage of your disability payment in addition to disability earnings.
If the primary insured becomes disabled due to cancer and remains so for more that 90 consecutive days we (AF) will pay all premiums due after the 90th day so long as the primary insured remains disabled.
What is waiver of premium?
This is the maximum face value of life insurance an employee can get on their spouse.
What is $50,000?
This is the amount of Carryover that is allowable for 2022 on a FSA.
What is $570?
Locking our computer, encrypting emails, looking for phishing emails is all a part of this.
What are examples of protecting our customers?