Voluntary Life

What is Voluntary Term Life Insurance?

  • Offered through your employer

  • Pays a benefit to your beneficiary if you pass away during a specific period of time (“term”)

  • Term is generally one year, renewing annually with other employer-offered benefits

  • You have the option to elect Voluntary Term Life Insurance.

 

Eligibility and coverage options

For you:

  • All active employees working 20+ hours per week and enrolled in TCSIG medical plans.

  • Voluntary Term Life Insurance coverage Options: Eligible employees may elect Voluntary Term Life Insurance of $50,000, $100,000, $150,000 or $200,000.

  • Age reductions: Benefit amount reduces to 65% of original coverage at age 65 and to 50% of original coverage at age 70.

 

For your spouse*:

  • If your spouse is covered under the policy as an employee, then your spouse is not eligible for coverage under the spouse benefit.  Coverage is available only if employee Voluntary Term Life Insurance is elected.

  • Eligible employees may elect spouse Voluntary Term Life Insurance of $10,000, $15,000 or $25,000.  Coverage cannot exceed 100% of your approved employee Voluntary Term Life Insurance amount.

  • Age reductions: Benefit amount reduces to 65% of original coverage at spouse age 65 and to 50% of original coverage at spouse age 70 and after.

 

For your children:

  • To age 19, to age 26 if a full-time student.

  • Coverage is available only if Employee Voluntary Term Life Insurance is elected.  If both parents are covered as employees, only one but not both may cover the same children.  If the parent who is covering the children stops being insured as an employee, the other parent may apply for children's coverage.

  • Eligible employees may elect Children Voluntary Term Life Insurance of $10,000.

  • Age reductions: Not applicable
     

* The use of “spouse” in this document means a person insured as a spouse as described in the certificate of insurance or rider. This may include domestic partners or civil union partners as defined by the group policy. Please contact your employer for more information.

 

What does my life insurance include?

The benefits listed below are included with your life insurance coverage.

Accelerated Death Benefit: If you are diagnosed with a terminal illness with a limited life expectancy, you may receive a portion of your death benefit while still living.

Conversion*: You may convert life insurance coverage to an individual whole life insurance policy when you leave your employer or due to loss of eligibility under the employer’s group policy.

Waiver of Premium: If you become unable to work due to total disability, your Voluntary Term Life Insurance can be continued without premium payment.

Convenient Payroll Deductions: Premium deductions for Voluntary Term Life coverages are taken directly from your paycheck, so you never have to worry about late payments or lapse notices.

A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders.

* Coverage on your spouse and children is available if they are enrolled for Voluntary Term Life Insurance.

 

Exclusions and limitations

Voluntary Term Life Insurance coverages have a two-year suicide exclusion from the effective date of coverage or an increase in coverage.

Voluntary Life Plan Certificate

Voluntary Life Conversion Form

 

Additional non-insurance services:

Funeral Planning and Concierge Services

Employee Assistance Program

Voya Travel Assistance

Voya Will Prep