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Travel Accident Insurance Coverage
Worry over accidents that may occur can be a big burden for many workers. To provide an extra measure of financial security, BCS Life Insurance offers both accidental death and dismemberment and group travel protection for the employees of Blue Cross and Blue Shield Plans.
Travel Accident Insurance Coverage from BCS Life Insurance offers these options:
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Broad Business Trip Coverage to protect employees 24 hours a day while traveling, other than to their regular place of employment. |
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Business Trip Coverage affords protection while an employee is on a business trip which requires travel outside a specified area. |
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Common Carrier Coverage protects workers while riding as a passenger in any common air, land or water carrier. |
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Comprehensive Conveyance Coverage is a broad form of passenger air travel protection, but also applies to employees while riding as a passenger in any other land or water conveyance. |
BCS Life Insurance also provides Voluntary Accidental Death and Dismemberment insurance for Plan employees and Accidental Death and Dismemberment reinsurance for Plan affiliates. This coverage pays a lump-sum benefit as a result of a covered event such as loss of sight, hearing, and limbs, or accidental death.
Group Universal Life
To provide additional service and support to Blue Cross and Blue Shield Plans, BCS Life Insurance offers a flexible supplemental life insurance benefit program for Plan employees and their families.
The Group Universal Life (GUL) program is an attractive package that includes these features:
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Low group rates |
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Optional accidental death rider |
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Flexibility in coverage amounts |
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Payroll deduction |
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Automatic increase in coverage as annual pay rises |
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Portability in the event of termination or retirement |
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A child rider which allows the purchase of $10,000 of life insurance for each child for $1 per month |
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An optional accelerated death benefit which provides a financial resource for the terminally ill |
The GUL program also offers Plan employees a valuable savings option, which allows the employee and spouse to build cash value while earning tax-deferred interest at competitive rates. The policy owner, for any reason, with no surrender fee, can use any funds contributed to this account. Also, if an insured dies, the money in this cash accumulation fund is paid as a tax-free death benefit, along with the policy face amount.
An outside administrator, headquartered in Des Moines, IA, administers this program for BCSI. While BCSI underwrites the benefits and works with Plan HR representatives, they are responsible for billing and servicing customers who call an 800-number established specifically for Blue Cross and Blue Shield Plans.
Because the program is non-ERISA, Plans have limited involvement, with the exception of payroll deductions.
For more information, please contact Theresa O'Shea at 630.472.7738 or at toshea@bcsigroup.com
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