Life and Disability

Group Life Insurance.  Whether employer paid or voluntary, a good life insurance policy provides for an employee’s final expenses, taxes, mortgage and even their children’s education as well as offering additional added benefits.  Anderson & Kime Employee Benefits, Inc. can help employers protect their employees and their employees’ families with a variety of different life insurance products.   Please read below for some brief information on the various types of life insurance available and then call us today for more information on our life insurance products.   

 

Cash Value Life Policy.  Life insurance that ties premiums to various types of investment accounts (stocks, bonds, money market, etc.) in which the savings can be tax deferred and/or borrowed against, if needed. These policies are known as whole life, universal life and variable life insurance.  

 

Term Life Policy.  Life insurance that does not build cash value, however, it will pay a set amount to the named beneficiary upon the death of insured within the stated term.  Some policies may also make payments upon terminal or critical illness.  

 

Short-Term Disability (STD):  During the time an employee is unable to work due to a qualifying disability (illness or injury), STD generally allows for income payments to the employee to begin after about a two-week waiting period and will continue to pay the employee until he/she recovers or maxes out the benefits--usually anywhere between one month to two years, depending on the policy.  

 

Long-Term Disability (LTD):   During the time an employee is unable to work due to a qualifying disability (illness or injury), LTD generally allows for income payments to the employee to begin after about a 90-day waiting period, although it could be much longer depending on the policy, but will continue to pay the employee far longer than STD--for a few years, up to age 65, or even for life.  

 

Note:  STD and LTD are also offered as voluntary supplemental insurance if the employer does not offer as an employer paid benefit.

 

 

 

 

 

Anderson & Kime Employee Benefits, Inc.

1-800-598-4019 ext. 112