Balance Health understand the importance of protecting your loved ones in case of unexpected events. That’s why we offer life insurance coverage to our employees.
Our life insurance plans provide financial protection to your beneficiaries in the event of your death. The coverage amount is based on your salary and other factors, and it can be used to cover expenses such as final expenses, mortgage payments, and other outstanding debts.
We offer two types of life insurance coverage: term life insurance and whole life insurance.
Term life insurance provides coverage for a specific period of time, typically 10, 20 or 30 years. This type of insurance is affordable and provides a large amount of coverage for a relatively low premium. It is a great option for those who have a need for coverage for a specific period of time, such as to cover a mortgage or other debts.
Whole life insurance, also known as permanent life insurance, provides coverage for your entire lifetime. This type of insurance also includes a savings component, known as cash value, which you can use to accumulate savings on a tax-deferred basis. The premium for whole life insurance is generally higher than term life insurance, but it also provides lifelong coverage and an investment component.
In addition to the basic life insurance coverage that we offer, we also provide additional coverage options such as accidental death and dismemberment coverage, which pays a benefit if you die or lose a limb as a result of an accident. We also offer dependent life insurance, which provides coverage for your eligible dependents, such as your spouse and children.
We also offer the option for employees to purchase additional coverage, called voluntary life insurance, that allows you to purchase additional coverage for yourself and/or your eligible dependents. The coverage is available at group rates and can be paid through payroll deductions.
To enroll in our life insurance coverage, you will need to complete the enrollment form and provide proof of insurability. If you have any questions about our life insurance coverage, please contact our customer service team for assistance.
At Co.Benefits, we are committed to providing our employees with comprehensive benefits that help protect them and their loved ones. Our life insurance coverage is an important part of this commitment and we encourage all of our employees to take advantage of this valuable benefit.
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