Frequently Asked Questions - Supplemental Employee Life Insurance

If you die or suffer a loss while insured for Life Insurance under the Policy, we will pay the benefit to your Beneficiary according to the terms of the Policy after we receive satisfactory proof of death or loss.

You must apply for the Policy when required, be an Eligible Person, and be a member of the defined Eligible Class.

You may elect optional coverage up to 5 times your annualized earnings rounded to the nearest $1,000, up to a ceiling of $500,000. Additional coverage for your spouse is also available, as covered below.

If you are applying for coverage in excess of the Guaranteed Standard Issue amount, or if you are applying under Late Enrollment, or if you are applying for reinstatement after your coverage has ended, you will be required to provide Evidence of Insurability. We may require you to have a physical examination depending on several factors including the amount of coverage you elect.

Yes, employees pay towards the cost of the insurance premium.

In most states, these policies are portable.  If your Optional Life Insurance ends because your job with the Employer ends, or your job changes so that you are no longer in the Eligible Class, for example, you may continue your Optional coverage by making the election for portability within 31 days from the date your coverage ended.  If you make this election, your continued coverage will be covered by the terms of the Group Life Portability Policy, and the premiums will be at the rate then in force for the group premium rate.  Information is available from your Employer on the benefit features and pricing of this coverage.

Any portion of your coverage that you do not elect for the portability feature may be converted to an individual policy according to the Conversion Privilege.

The Conversion Privilege permits you to keep your Employee Life insurance in the following situations:

  • Your employment ends;
  • You leave the Eligible Class;
  • The Policy ends or there is a change in the Eligible Class, under certain other specified conditions; or
  • Your Policy was being continued because of a disability and the continuation ceases and you have not returned to work as an active employee.

Application must be made within 31 days after the group insurance ends. The converted policy is an individual policy, written on any form we then issue for the amount chosen, except term insurance. Waiver of premium, accidental death, or other optional provisions or riders are not available under the individual policy.

If you become Totally Disabled before age 60 while insured under the Policy, your Employee insurance will be continued without further payment of premium.  You must pay the premiums until your Totally Disability is approved.  To be considered Totally Disabled, you must:

  • Be unable to perform the material duties of your own occupation on a full-time or part-time basis because of an injury or sickness;
  • Not work at all in any occupation; and
  • Be under a physician’s care.

Yes, you may choose to continue your and your spouse’s coverage during a Family and Medical Leave.

If you choose to continue the coverage during the leave, the required contributions must be paid to your Employer, any changes in benefits that occur during the continuation period will apply on the effective date of the change, any Active Work or hospital confinement period will be waived, and the continuation during the Family and Medical Leave will run concurrently with a continuation during any other leave of absence.

If you choose not to continue your coverage, coverage will resume without your providing Evidence of Insurability if you return to work immediately after the Leave ends.

Family and Medical Leave means a leave of absence as defined by the Family and Medical Leave Act of 1993 or any state-mandated family and medical leave act or law.

Yes, in the event of a Terminal Illness expected to result in death within 12 months, you may receive the lesser of 50% of the Life Benefit or $250,000, provided that you have at least $10,000 of life insurance. Because you may have to pay tax on this Living Benefit, you should consult with your tax adviser before requesting this benefit.

You have the option of insuring your spouse’s life for 10%, 20%, 30%, 40% or 50% of the supplemental coverage you elected, rounded to the nearest $1,000, with a ceiling of $250,000.

If you elect coverage in excess of the Guaranteed Standard Issue limit, your spouse may have to provide Evidence of Insurability, part of which may include a physical exam.

In most states, these policies are portable. If your Optional Life Insurance ends because your job with the Employer ends, or your job changes so that you are no longer in the Eligible Class, for example, you may continue your Optional coverage by making the election for portability within 31 days from the date your coverage ended. Any portion of the spousal life insurance benefit may be continued under portability with a minimum of $10,000 coverage to a maximum of the lesser of the plan maximum or a total of $500,000 for all policies with Provident.

Yes, in the event of your spouse’s Terminal Illness expected to result in death within 12 months, you may apply to receive a portion of the life insurance benefit while your spouse is still alive, up to 50% of life benefit with a maximum payment of $125,000, if your spouse has at least $10,000 of life insurance coverage. Because you may have to pay tax on this Living Benefit, you should consult with your tax advisor before requesting this benefit.