Individual Life Insurance
In the past Troup County employees have been offered individual life insurance policies through Shenandoah Life Insurance Company and Trustmark Insurance Company.Employees currently with Shenandoah or Trustmark are encouraged to keep them.
Benefit Offer
True Guarantee Issue for Employees, regardless of medical history or prior ratings or declinations through Unum for all employees during the 2012 enrollment period.
Individual Term Insurance - 10 Year Term
Policies are ten (10) year term contracts, with premiums level for ten years. After the initial ten year period, rates increase based on attained age. Term policies are available to all employees and your spouse.
~~ Policies may be converted to a cash value policy at the end of the term
~~ Living Benefit Option included. In case of a terminal illness diagnosis, policy holder can be advanced up to 75% of the death benefit while living.
Employee Coverage available up to $150,000
• Guarantee Issue - Age 15-50 $40,000
Age 51-70 $25,000
Spouse Coverage available up to $50,000
• Conditional Issue- Age 15-55 $15,000
Dependent Children Coverage can be covered under a child rider on Employee or Spouse policy.
Individual Whole Life - Guaranteed
Polices are guaranteed to have premiums and death benefit to remain level. They do not change as you get older. Most financial planners agree that a well-rounded portfolio includes at least some permanent life insurance, such as Whole Life.
~~ Includes a Long-term Care rider that pays 6% of face amount for in-facility benefit and 4% home care benefit.
~~ Living Benefit Option included. In case of a terminal illness diagnosis, policy holder can be advanced up to 100% of the death benefit while living
Employee Coverage available up to $150,000
• Guarantee Issue - Age 15-50 $75,000
Age 51-80 $40,000
Spouse Coverage available up to $50,000
• Conditional Issue Age 15-50 $25,000
Age 51-80 $10,000
Dependent Children/Grandchildren Coverage up to $2/week Guarantee Issue, $3 week maximum amount
Policies over Guarantee Issue / Conditional Issue are eligible for "Simplified Issue". To qualify, the applicant must answer no to the following questions *:
1. In the past 10 years, has a care provider or medical facility informed you that you have HIV infection or treated you for such infection?
2. Has spouse been admitted to a medical facility on an inpatient or outpatient basis or has spouse been disabled so as to prevent he/she from performing the normal duties of a person of like age, within the last 6 months?
Conditional Issue: During the past 12 months, he/she must not have been hospitalized or treated, including prescription medication, for an injury or sickness, excluding pregnancy, colds, allergies, flu, and back problems.
