Voluntary Benefits | Whole Life InsuranceUnum Whole Life Insurance
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How It Works
- Voluntary, individual coverage is available for employees, with multiple family coverage options offered.
Policy is now guaranteed issue to all eligible employees, spouses and participants with existing coverage except for those that were previously denied coverage through medical underwriting.
- No physical exams are required to apply for coverage. Policy issue may depend upon answers to health questions contained in the application when applying for coverage amounts in excess of the guaranteed-issue limits.
- Premiums are guaranteed level based on your age at the time of policy issue and do not increase due to age.
- Cash value is based on a tabular rate of 4.5%.
- The policy contains a reduced paid-up provision, which allows you to use your accumulated cash value to purchase a smaller, paid-up policy with no further premiums due.
- Coverage may be continued as long as sufficient premiums are paid.
- A Living Benefit Option rider is automatically included at no extra premium on all policies. This feature allows the policy owner to request up to 100% of the death benefit (to a maximum of $150,000) if the insured is diagnosed with a medical condition that limits life expectancy to 12 months or less. Any payout reduces the death benefit.
- The policy is individually owned, which means you can take the policy with you should you retire or leave the District.
NOTE: This benefit is only available during open enrollment. You must meet with a Benefit Counselor to enroll in this benefit.
Unum Whole Life Insurance
Mon. – Fri., 8 a.m. – 8 p.m. ET
The policy or its provisions may vary or be unavailable in some states. The policy has exclusions and limitations which may affect any benefits payable. Unum Corporation complies with Act 91, the Vermont Civil Union Endorsement Law and the California Insurance Equity Act.
Unum is the marketing brand of Unum Corporation’s insuring subsidiaries. Provident Life and Accident Insurance Company,
1 Fountain Square, Chattanooga, TN 37402
Whole Life Weekly Premium Limits
|GUARANTEED ISSUE*||SIMPLIFIED ISSUE|
|EMPLOYEE||$3 - $35||$31 - $40|
|SPOUSE||$3 - $5||$6 - $10|
|*GI will now apply to all eligible employees, spouses and participants with existing coverage except for those that were previously denied coverage through medical underwriting.|
- Issue ages: 15 – 80
- Must be actively at work at time of application
- Full-time DCPS employee
- Issue ages: 15 – 80
Child – Standalone Policy
- Issue ages: 14 days – 26 years
- Available to children, grandchildren, stepchildren, and legally adopted children of the employee between the ages of 14 days and 26 years
- Children must reside in the United States