AMERICAN BENEFIT ADVISORS
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Group Life Insurance
Group Disability Insurance
Along with Health Insurance, Life Insurance is considered the most important part of the benefit package for employees. 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. American Benefit Advisors, Inc. (ABA) 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.
In addition to Life Insurance, voluntary benefits such as Long and Short Term Disability Insurance are extremely important to employees. In fact, national surveys have shown that it is one the most popular benefits that employees are willing to pay for themselves and smart employers attract top talent by shopping and securing the best range of benefits at discounted premiums. Call one of the experts at ABA today to learn more about adding affordable Short and Long Term Disability Insurance programs to your benefit package.
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 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 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 will--for a few years, up to age 65, or even for a lifetime.