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June 4, 2005 |
Employee Guaranteed Issue Amount
Spouse Coverage
Spouse-Only Coverage
Dependent Child Coverage
Portability
Unique Waiver of Premium
Simplified Underwriting
Non-Smoker Reward
Living Benefit Options
Toll-Free Number for Direct Access and Assistance
Administration
Personal Visits
Employee Coverage
The employee and/or spouse may select any amount of coverage in $10,000 increments up to $500,000. There are no restrictions such as multiples of salary on the amount of coverage an employee can purchase. This provides the necessary flexibility to truly fill different individuals needs. Employee Guaranteed Issue Amount
The eligible employee, actively at work, under age 60 has been pre-approved for a specified amount of life insurance to be issued regardless of health condition, provided the employee enrolls during the eligible period. For employees age 60 to 70, $10,000 is guaranteed issue. Amounts above what is guaranteed issue are subject to the medical questionnaire. Spouse Coverage
The Spouse can purchase life insurance in any amount up to $500,000 in $10,000 increments with no restrictions as to the amount purchased by the employee. Spouse insurance is available to age 70. Spouse-Only Coverage
The Spouse can purchase any amount up to $500,000 without any employee participation. Dependent Child Coverage
During the open enrollment, all dependent child coverage is guaranteed issue provided either the employee/or spouse participate. The eligible children may be covered in $2,500 amounts up to $10,000. One premium amount covers all children regardless of how many are in the family. Portability
All family coverage is totally portable as term insurance at higher group rates should an employee terminate from the group. This assures ongoing protection for the entire family throughout the entire working career. Unique Waiver of Premium
Should an employee, become totally disabled and unable to work prior to age 60, the insurance premium for all family coverage will be paid for by the insurance company following the waiting period and claim approval. This will continue as long as the disability continues even to age 70. Simplified Underwriting
For coverage applied for above the guaranteed issue amounts and for the spouse-only coverage, there are only four medical questions to answer. Medical exams and/or blood work are seldom required. Non-Smoker Reward
The rate structure clearly recognizes the financial advantage to the nonsmoker. This promotes wellness and is a clear indication that good health practices are also financially rewarded. Living Benefit Options
Should any insured person be diagnosed terminally ill with a life expectancy of one year or less that person can elect to receive 50% of their life insurance amount up to $250,000 while still living. The 50% balance is paid to the beneficiary at the time of death. There is no charge or interest penalty for this option. Toll-Free Number for Direct Access and Assistance
This is emphasized again since it has proven to be a very convenient and effective service during the enrollment and thereafter. In the enrollment kit memo for each employee, there is a toll-free telephone number to call AGI which then provides any employee or spouse immediate access to a benefit representative for any needed assistance. The employer does not have to explain the program or answer any questions. Administration
AGI provides all of the administration, processing and service of this voluntary life program from our corporate offices in Sarasota, Florida. AGI has an exclusive nationwide administrative agreement with the insurance company. This includes all aspects of this voluntary life program from explaining the program, the processing of applications through underwriting, itemized list billing by participants, certificate issuance, claim assistance and all other services Personal Visits
AGI home office personnel are traveling throughout the country on a regular basis. Our personal visits are not regulated to a regional representative. The management teams you know and who are familiar with your account make the visits. As part of that team, they are knowledgeable of all plan details. When you couple this with a working knowledge of the administrative procedures, this produces a meaningful visit since they can assist with any of your services needs.
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