The FDAC EBA has partnered with Standard Insurance Company for life insurance coverage. Standard Insurance Company offers Basic Life and AD&D. Basic Life and AD&D is an employer-paid benefit. Member agencies are able to select the level of benefit they will provide to eligible employees, from $10,000 to $200,000.
Supplemental Insurance can be selected by the employees for themselves and their eligible dependents. Supplemental Insurance is an employee-paid benefit through payroll deduction. Employees can select any amount up to $200,000, without providing proof of insurability, in increments of $10,000; above $200,000 and up to $500,000 must be underwritten and approved by Standard Insurance Company. Employees may purchase up to supplemental life insurance for their eligible dependents, as long as they are enrolled for the benefit. The guarantee issue amount for a spouse is $50,000. Amounts above this will need to be underwritten and approved by The Standard. Coverage for dependent children is also available in $2,000 increments up to $10,000.
Plan Documents:
- Group Critical Illness Insurance Benefit Highlights
- Group Life Beneficiary Designations and Assignments
- ERISA Claim Procedures for Claims Filed on or After April 1, 2018
- Annual Customer Privacy Notice
- Beneficiary Assist Counseling Services
- Employer Group Benefits Coverage Information
- Notice of Conversion and/or Portability Rights
- Benefits Enrollment Form
Please contact our office for a quote.
