Voluntary Insurance

What Employers Face Today

On one hand, you want to attract and retain good employees by offering a full range of benefits. On the other hand, you need to control costs and keep administration easy. You also know that when employees are job searching, the type of benefits a company can offer them is a large part of their decision to accept or decline a potential job offer.

At Pekin Life Insurance Company, we understand that a comprehensive employee benefits package is a powerful magnet for attracting and retaining a strong workforce. That is why we offer voluntary benefit plans that let you customize a program to suit your specific workforce and their budgetary needs– at little or no direct cost to your company.

We offer a number of flexible, affordable voluntary benefit plans for your employees, including our Voluntary Term Life Insurance, Voluntary Short Term Disability Insurance, and Voluntary Accident Insurance, to help enhance your ability to attract and retain good employees. Our voluntary insurance plans fill gaps in coverage and help you offer a more comprehensive benefits package. Best of all, employees pay all of the premiums, which helps you control benefit costs.

By sponsoring these valuable coverages, you expand the range of benefits you offer. Your employees make their own benefit choices, then pay for whatever coverage they select. You collect the premiums through payroll deduction, making the employee’s premium payments easy and automatic. Your employees will appreciate the opportunity and convenience of buying coverage at work to help them maintain financial and physical well-being. And since you do not have to contribute financially, it’s a smart, cost- effective choice.

Our Voluntary Insurance Plans allow you to give your employees a broader benefits package and let them select the best benefits to fit their different lifestyles and financial circumstances by choosing to spend as much or as little as they want to meet their specific needs. This protects your employees’ morale and boosts their satisfaction because they know their family is financially covered for any unpaid bills, mortgage payments, and burial expenses.

It is important for life insurance to emotionally compensate for a loss, but it may help ease some financial costs placed upon your employees’ families or loved ones. Our Voluntary Term Life Insurance is an affordable way for your employees to provide the financial security they want for their loved ones, so when they’re gone, their families are financially covered for any unpaid bills, mortgage payments, and even burial expenses.

Depending on the number of employees you have, your employees can purchase up to$100,000 of term life insurance on a guaranteed issue basis and up to $200,000 with just a couple of health questions and no medical exam. With a few more health questions, they can purchase up to $300,000. Employees can even take their coverage with them if they change employment by changing it to permanent coverage without proof of good health. This valuable coverage is available for all active employees working 20 or more hours per week, an employee’s spouse or legally recognized civil union partner, and dependent children from 15 days through 18 years old.

Voluntary Short Term Disability Insurance

A paycheck is seldom a luxury– it’s necessary that most of us rely on to provide for our basic needs. For many people, losing just one paycheck can be difficult, but when an accident or illness keeps an employee from working for an extended period of time, difficulty can turn into disaster. Families can be forced to cut back on even the basics, like food, clothing, transportation, and housing.

Short Term Disability Insurance is designed to help employees in the event an illness or injury prevents them from earning their usual income. This plan will pay those employees who choose to participate up to 60% of weekly earrings (to a $1,200 weekly maximum) if they are disabled because of sickness or accident away from work.

Benefits can begin to accrue as early as on the 8th day for sickness or accrue immediately in the case of an accident, depending on the coverage chosen. The plan features competitive group rates and guaranteed issue amounts of timely applicants.

Voluntary Accident Insurance

As many employers raise deductibles to help manage the rising cost of medical insurance, their employees are left paying more for out- of- pocket medical expenses. The bills that follow a sudden accident, which can happen to anyone, anytime, anywhere, may leave your employees with even more expenses because they are not prepared to pay for what major medical insurance will not cover.

Our Voluntary Accident Insurance Plan pays cash benefits for non- work- related accidents or injuries and for ambulance services and other services in addition to what your primary medical insurance pays. Benefits are paid directly to your employees, and they can even purchase coverage for all their immediate family members. Best of all, it's a guaranteed issue, so there are no health questions to answer.

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