Voluntary Income Protection


Carrier Name:

USAble Life

Line of Coverage:

Voluntary Income Protection

Key Selling Features:

  • Choice of plans to fit your company’s needs
  • Waiver of premium
  • Partial disability
  • Maternity leave benefit

Basic Product Overview:

Voluntary Income Protection (VIP) allows you to select short term disability benefits that protect your ability to earn an income in the event you suffer an illness or accidental injury. If you lose the ability to earn a paycheck, VIP will give you the peace of mind that you will be able to continue making payments on your home and giving your family financial stability and is available to individuals whose employer has sponsored the plan and has provided for premium payments to be made through payroll deduction. A group contract is issued to the sponsoring employer.

Eligibility

  • Actively at work, at least 20 hours per week for your employer;
  • Under age 70 on the effective date of your coverage; and
  • Satisfy the waiting period set by your employer, of not less than 30 days.

Amount

You may elect your weekly benefit in $10 increments, not to exceed the percentage of your weekly earnings, as selected by your employer. The plan pays the weekly benefit, up to $750, directly to you in the event you are totally disabled from a sickness or accidental injury.

Definitions

Total Disability or Totally Disabled

  • You are completely unable to perform all of the material duties of your own regular occupation at your customary place of work; and
  • You are not actively working in any occupation for pay or profit; and
  • You are under the regular care of a physician.

Partial disability
As a result of the sickness or injury which caused total disability:

  • You are able to perform one or more, but not all, of the material and substantial duties of your own or any other occupation on a full-time basis; or
  • You are able to perform all of the material and substantial duties of your own or any other occupation on a part-time basis.

Pre-existing condition
A diagnosed sickness or injury for which you received treatment within twelve (12) months prior to your effective date or the effective date of an increase in coverage. Treatment means consultation, care, or services provided by a physician, including diagnostic measures and taking prescribed drugs and medicine.

Partial Disability

You may receive up to 100% of your pre-disability income if:

  • Partial disability begins within 31 days of the date total disability ceases.
  • You are earning less than 80% of your pre disability income at the time the partial disability employment begins. The partial disability benefit is the lesser of:
  • The weekly benefit selected; or
  • 100% of your pre-disability earnings, less your partial disability earnings.

Reductions

If you are still actively at work on a full-time basis, VIP benefits reduce 331/3%when you reach age65 and will terminate at age 70 or your retirement, whichever occurs first.

Waiver of Premium

If you are totally disabled for 90 consecutive days, future premium payments that fall due will be waived as long as you are receiving benefits.

Pre-Existing Exclusion

The plan does not pay for disabilities caused by or related to a pre-existing condition during the first year of coverage, or an increase in coverage.

Advantages and Strengths of Implementing this Product with our company over our competitors: USAble Life brings extensive knowledge on the products that serve the worksite market. We offer highly competitive products and rates with personalized one-on-one enrollments. Our web site is user friendly. We recently introduced a new incentive, called LifeLine, which allows employers to track claims through our web site.

DISCLAIMER: This is a brief description of the products offered by USAble Life. These descriptions are for informational purposes only. Products and provisions described may not be available in all states. Specific provisions may vary by state. The policy contains a complete description of benefits, provisions, limitations and exclusions. In the event of a conflict between this description and the policy, the policy will prevail.