COLONIAL LIFE
INDIVIDUAL ACCIDENT
Individual Accident (IAC4000) is our newest voluntary accident insurance coverage. It provides a broad range of both lump sum and daily hospital benefits to insured persons for injuries received as a result of a covered accident. Employers can customize the offering in their account by selecting from our employer-optional base benefits. A competitive selection of employee-choice riders are available in most states.
INDIVIDUAL DISABILITY
Key Features
The policy is owned by the employee with, usually 100% premium funded by the employee.
Guaranteed Issue coverage is available based on account guidelines and monthly benefit amount selected at initial enrollment, when participation is met, regardless of the employee’s health.
Industry-rated with one risk per account. Shelf rates are available for all eligible accounts.
Coverage is guaranteed renewable to age 75 and may be canceled by Colonial Life only for non-payment of premium or the employee may cancel the coverage based on the termination provision stated in the policy. The coverage is portable.
Plan Snapshot
Disability insurance provides benefits directly to the insured for a covered disability.
These benefits may help with medical and/or non-medical expenses.
The individual policy is owned by the employee and is typically funded by the employee