Individual Voluntary products are personalized, optional insurance benefits that are selected and paid for by employees. These benefits help employees with the out-of-pocket costs related to unexpected sickness or injury.
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This normally consists of following benefits and plans:
Hospital Indemnity Insurance
- Pays a specific amount for each day of covered hospital stay to help offset out-of-pocket costs
- Optional hospital-related and emergency-care benefits available
Lump-sum Cancer Benefit
- Pays lump-sum benefit after first diagnosis of internal cancer
- Benefit amounts range from $10,000 to $50,000
- Helps insured focus on recovery, not financial burden
Disability Income Insurance
- Pays monthly benefit to help offset loss of income during disability
- Employees can choose:
- When benefits begin
- How much they will receive
- How long they receive benefits
- Optional benefits available
Life Insurance
- Employee chooses the benefit amount
- Optional features include:
- Family term insurance
- Children's term insurance
- Accidental death benefit
- Waiver of premium
Premiums for individual voluntary products are collected through payroll deductions. Coverage is portable, which means that employees can take the coverage from job to job.
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florida group benefit insurance::.