Term Life Insurance
If you want, you can offer employees a life insurance benefits package! And it includes both Group Term Life and Accidental Death & Dismemberment (AD&D). Health Net has built these two products that can be added to any Health Net medical plan. With these plans, you can help your employees prepare for any life event.
The package offers the ease of working with engaged Health Net representatives. They'll help guide you through each process, which includes:
- Sales
- Administration
- Claims
Health Net Life Insurance Company offers a full range of benefit schedules. They're a good fit for both small (2-100) and large (101+) employer groups.
Group life plan features
- Waiver of premium provision – A life benefit can be extended during a period of total disability under terms specified in the group Certificate of Insurance.
- Accelerated death benefit – Provides financial protection to the insured in time of need, while also protecting the interest of the beneficiary. The accelerated benefit is a portion of the basic life insurance amount and is payable in a lump sum.
- Conversion privilege – A conversion privilege to whole life insurance is available to certain members whose coverage terminates due to reasons specified in the group policy. This conversion does not require a physical examination or evidence of insurability. Coverage must be applied for, and the first premium must be paid within 31 days following the date of coverage termination.
Health Net is intent on meeting the life insurance needs of groups and insureds. We provide valued, cost-saving benefit solutions.
Reinsurance for Group Life and AD&D benefits is underwritten by Group Reinsurance® a segment of the Group Benefits division of The Hartford Financial Services Group, Inc.