DEPENDENT LIFE
PRODUCT OVERVIEW Dependent Life provides a blanket of security for the employee’s immediate family members namely, spouse and children.
ELIGIBILITY Spouse and unmarried children, step-children or legally adopted children of employees currently covered under the employer’s Group Health or Life policy. The maximum age of entry for spouse is sixtyfive (65) years Children are covered up to their 25th birthday.
COVERAGE OPTIONS Dependent Life provides four (4) packaged coverage options: PACKAGE 1
Spouse Per Child
$200,000 $100,000
PACKAGE 2
Spouse Per Child
$400,000 $200,000
PACKAGE 3
Spouse Per Child
$500,000 $250,000
PACKAGE 4
Spouse Per Child
$600,000 $300,000
For one flat premium the entire family unit will be covered.
DEATH BENEFIT
The sum insured designated will be paid to the beneficiary (i.e. the employee) to cover the associated final expenses. However, the sum insured will not be paid if the dependent dies as a result of a condition that is known six (6) months prior to the effective date of the benefit.
Claims are paid within 3 – 5 working days after receipt of claim forms duly completed along with death certificate, proof of relationship, and identification (birth certificate, TRN, passport, voter’s ID or driver’s license). Acceptable Proof of Relationship documents: • Birth certificate • Marriage certificate • Declaration of Relationship form (if no other document is available) EXTENSION OF COVERAGE If an employee dies during the thirty-one (31) day period following cancellation of his/her insurance, the total sum insured shall be payable as a claim.
PREMIUM PAYMENTS
Premiums are payable monthly via salary deduction and charged based on the package chosen and not per covered person. This benefit is yearly renewable and rates agreed upon with the Company are valid for a 12 month period. Annually, Sagicor will review the utilization, participating levels and benefits and set the new premium rates for the following twelve (12) month period. Any rate change will be communicated to the Company prior to becoming effective. These rate changes will automatically apply to all members unless written notification of termination of your coverage is received by Sagicor.
WAIVER OF PREMIUM If an employee, while insured and under the age of sixty (60) years, becomes totally disabled and if such total disability continues after the discontinuance of premium payments for the dependent’s insurance, the insurance will be extended, without payment of the premium during the continuance of the total disability for a period of one (1) year. The employee is required to submit proof of disability within three (3) months immediately preceding the end of each subsequent year.
TERMINATION
The benefit terminates upon: • Death of the employee • Termination of employment or Group Policy • The date the dependent child attains twentyfive (25) years and/or marriage There is no refund of premium upon termination of this benefit.
CONVERSION
If the coverage ceases by reason of the employee’s termination of employment or termination of the Group Policy or death, the insured is eligible to convert within 31 days after termination with a Sum Insured that is less than or equal to the sum insured under this benefit, without providing evidence of insurability. The dependent child under the age of eighteen (18) years is required to have an adult named on the converted policy. NB: No refund shall be payable on the failure to exercise the conversion privilege.
ADDITIONAL COVERAGE
Provided that this coverage has been in effect for one (1) year, you may opt to adjust the benefits at anytime with a maximum of once per year on any policy anniversary. The additional coverage however will be required to fulfill the twelve (12) month waiting period. If the insured dies before the end of this period the original sum insured will be payable and a refund of premium will be granted for the additional coverage amount.
LISTEN TO THE PART OF YOU THAT ECHOS LIFE’S TRUE AND NEVERENDING DELIGHT
LIMITATIONS AND DISCLAIMER THIS BROCHURE IS IN NO WAY INTENDED TO BE A COMPLETE EXPLANATION OF ALL CONDITIONS, TERMS, LIMITATIONS, EXCLUSIONS AND OTHER PROVISIONS OF THE CONTRACT. THIS BROCHURE IS FOR NFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO BE A CONTRACT OF INSURANCE.
Let’s talk. Give us a call at: 1-888-SAGICOR (724-4267)! sagicorjamaica.com
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! ! ! ! ! Employee Benefits - Marketing E-mail: voluntary@sagicor.com
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Services Offered • LIFE & HEALTH INSURANCE • PENSIONS • INVESTMENTS • MORTGAGES • RETIREMENT PLANNING • REAL ESTATE SERVICES
EBV-BRO04-08-J03/0912
Revised as at October 2017