Most likely you have some life insurance. But is it enough to replace your income and all you mean to your family? Of the people who already have a life insurance policy, 1 in 5 admit they don’t carry quite enough.1
With Whole Life Insurance, you can give your family the added financial protection they may need in the event that something unexpected happens, while also saving a little extra for retirement if you don’t use it.
1 Fisher, Jason. “2018 Life Insurance Statistics and Facts.” BestLifeRatesorg, 18 Feb. 2019, www.bestliferates.org/blog/2018-life-insurance-statistics-and-facts/.
Answers about the plan, including eligibility, options, enrollment, customer service and more.
Can I meet with someone one-on-one to get a better understanding of this insurance product?
Who is the provider?
How can this help me?
Who is eligible?
All Baystate and Baycare employees who work at least 16 hours/wk or BVNAH employees who work at least 15 hours/week.
Who can enroll?
*The use of “spouse” means a person insured as a spouse as described in the certificate of insurance or rider.
When can I enroll?
When is my coverage effective?
The effective date of coverage is the date you are eligible to begin filing claims.
When/how can I cancel my coverage and when would it take effect?
How much will this coverage cost?
What if my employment status changes?
How do I pay for this benefit?
What benefit amounts can I choose from?
Do I need to answer any health questions?
Can I use my benefits if I’m terminally ill?
None of us likes to think about these things, but it’s important that you can also tap into your life insurance death benefit early if you’re ever diagnosed with a terminal illness. That benefit could really help you and your family during a difficult time. An advance payment of your life insurance benefits is available if you are diagnosed with a terminal illness with a life expectancy of 12 months or less.
You can request payment up to 50% percent of your benefit amount, up to a maximum of $150,000. Advance payment permanently reduces the death benefit. Premiums must continue to be paid on the remaining benefit amount after an advanced payment.
What does “Paid-up Life Insurance” mean?
Does this type of life insurance end when I reach a certain age?
No, you can keep this policy for your lifetime as long as you continue to pay the premiums. All coverage under this policy will terminate when any of the following occurs:
How do I access a claim form and how do file a claim for benefits?
This is a summary of benefits only. Please review your enrollment materials and any other applicable brochures prior to enrolling in coverage. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern. To keep coverage in force, premiums are payable up to the date of coverage termination. Accident Insurance is underwritten by ReliaStar Life Insurance Company, a member of the Voya® family of companies. Policy Form #RL-ACC2-POL-12 or #RL-ACC3-POL-16. Form numbers, provisions and availability may vary by state.