CareAmerica Life Insurance Company offers a flexible approach to group
benefits to meet the life insurance needs of small businesses across California.
We offer Group Term Life and AD&D insurance for your employees and
Group Term Life
Provides death benefits to beneficiaries designated by the insured.
Offers age banded rates
Coverage cannot exceed five times an employees salary.
Original benefit amount reduced by 35 percent at age 65 and by 50 percent at age 70. All benefits terminate at retirement.
|Group Term Life
|Evidence of Insurability
|Guarantee Issue Amount for Groups
You can choose the plan design that meets your company's
||All employees are covered at the same
flat amount, e.g., $30,000.
|Multiples of Salary
||All employees are covered
for the same multiple of salary, up to a salary maximum, e.g. two
times annual earnings, to a maximum of $30,000.
||All employees are divided into classes
(up to four) that have different levels of benefits. The benefit amount
for each class must be no more than 2.5 times that of the next lower
Waiver of Premium Provision
Included for groups offering group term life or dependent life.
Allows for continuation of life insurance coverage without payment
of premium if insured employee is totally disabled prior to age 60.
The amount of coverage will be the coverage in effect at the time
disability commences. The life insurance continued will be subject to
the reductions and terminations shown in the policy.
Accidental Death and Dismemberment (AD&D)
Provides full benefit for accidental loss of life. Full benefit
equals the life insurance coverage amount. Partial benefits are paid for
accidental losses as listed in the chart below benefit
||Percentage of Benefit
|Loss of limbs above wrist or ankle
|Loss of sight in one eye
|Loss of thumb and index finger of one
|Loss of all four fingers of one hand
| Loss of all toes of one foot
Group term life must be purchased before dependent life is available.
Provides life insurance coverage for an employees spouse
and/or dependent children (domestic partner and his/her children upon
$1,000 to $5,000 benefits offered per dependent in increments of
Coverage amounts for spouse and children must be equal and cannot
exceed 50% of the employees benefit.
Subject to certain coverage limitations for newborns and infants.
Domestic Partner Coverage
Available to groups offering dependent life.
Provides coverage for dependents classified as a domestic partner.
Child benefit available to the children of domestic partner.
This is only a summary of benefits, it is not a policy.
The actual complete terms and conditions are set forth in the policy.