{"id":14813,"date":"2019-05-02T15:24:30","date_gmt":"2019-05-02T19:24:30","guid":{"rendered":"https:\/\/insurancenewsnet.com\/?post_type=oarticle&amp;p=4008918"},"modified":"2019-05-02T15:24:30","modified_gmt":"2019-05-02T19:24:30","slug":"colonial-lifes-new-coverage-helps-workers-customize-benefits","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/05\/02\/colonial-lifes-new-coverage-helps-workers-customize-benefits\/","title":{"rendered":"Colonial Life\u2019s New Coverage Helps Workers Customize Benefits"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"https:\/\/insurancenewsnet.com\/wp-content\/uploads\/2018\/04\/inn-og-default.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<div class=\"push-box\">\n<div class=\"article-content\">\n<div itemscope itemtype=\"http:\/\/schema.org\/Article\"> <span><\/p>\n<p> <span><\/p>\n<p><\/span> <\/p>\n<p><\/span> <span><br \/>\n <span><\/p>\n<p><\/span><br \/>\n<\/span> <\/p>\n<p> <span><\/p>\n<p><\/span> <\/p>\n<div>\n<p>COLUMBIA, S.C. \u2014 Workers have new options to customize their financial protection benefits, thanks to an enhanced term life insurance plan introduced today by Colonial Life &amp; Accident Insurance Company.<\/p>\n<p>Key additional options for Colonial Life\u2019s individual term life coverage include:<\/p>\n<ul>\n<li>A new 15-year benefit period;<\/li>\n<li>Living benefit options through two new riders: chronic care and critical illness; and<\/li>\n<li>A new plan for high face amounts (more than $250,000) with gender-distinct rates.<\/li>\n<\/ul>\n<p>\u201cToday\u2019s consumers want their financial protection to fit their unique needs and situation,\u201d said Pam Jenkins, assistant vice president for product and market development. \u201cConsumers aren\u2019t one-size-fits-all, and our products should reflect the need for flexibility.\u201d<\/p>\n<p>Colonial Life\u2019s term life policy now offers:<\/p>\n<ul>\n<li>Four plan options: 10-year, 15-year, 20-year and 30-year term;<\/li>\n<li>Face amounts ranging from $10,000 to unlimited, based on underwriting;<\/li>\n<li>Terminal illness accelerated death benefit included;<\/li>\n<li>Same coverage for employee and\/or spouse;<\/li>\n<li>Tobacco-distinct\/unisex rates for amounts up to $250,000; and<\/li>\n<li>Gender-distinct rates for amounts over $250,000, with preferred rating based on health; and<\/li>\n<li>Six optional riders: 10-year or 20-year spouse term rider, children\u2019s term rider, accidental death benefit rider, chronic care accelerated death benefit rider, critical illness accelerated death benefit rider, and waiver of premium benefit rider.<\/li>\n<\/ul>\n<p>The need for life insurance can vary greatly depending on a variety of factors, including family situation, current income, short- and long-term debts and other savings. An April report from LIMRA and Life Happens, a nonprofit educational organization, found 66% of consumers say they need life insurance, but only 57% own it.<\/p>\n<p>To help consumers determine their needs, Colonial Life has partnered with Life Happens to offer a free <a href=\"http:\/\/worklife.coloniallife.com\/calculator\/\">life insurance needs calculator<\/a> on its website at <a href=\"http:\/\/worklife.coloniallife.com\/calculator\/\">http:\/\/worklife.coloniallife.com\/calculator\/<\/a>.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p> <a href=\"https:\/\/insurancenewsnet.com\/oarticle\/colonial-lifes-new-coverage-helps-workers-customize-benefits\">Read the original article at insurancenewsnet.com <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>COLUMBIA, S.C. \u2014 Workers have new options to customize their financial protection benefits, thanks to an enhanced term life insurance plan introduced today by Colonial Life &amp; Accident Insurance Company. Key additional options for&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/14813"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=14813"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/14813\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=14813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=14813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=14813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}