Voluntary Benefits for the Employees of Town of Cary:

All products being offered are individually-owned, fully portable, fixed rate policies to provide employees with coverage that belongs to them and goes wherever they go.

 

Whole Life Insurance

  • Permanent Insurance to complement term insurance offered by Town of Cary
  • Policy builds cash value that accumulates over time
  • Fixed rate that never changes
  • Individual policy that is fully portable
  • Contains a Long Term Care (LTC) rider that allows individual to draw down death benefit to use for long-term care expenses
  • Guarantee Issue available for Employees hired during the previous year prior to the annual enrollment period (for coverage costing $10/week or less)
  • Spouse and child coverage available

Critical Illness Coverage

  • Pays a lump sum if the insured is diagnosed with any of the following critical illnesses:

          Heart attack        Stroke          Renal Failure             Permanent Paralysis        Organ Transplant

            All paid at 100% of lump sum chosen by insured.

                        Coronary Artery Bypass Surgery

            Paid at 25% of lump sum chosen by insured.

  • Cancer coverage also available by rider.

Paid at 100% of lump sum chosen by insured.

Carcinoma in situ (stage 0 cancer)paid at 25% of lump sum.

  • Provides a Health Screening Benefit that pays $50 per calendar year for certain health screening tests
  • Coverage available  - simplified issue (answer a few medical questions) - $5,000-$30,000 lump sum
  • Spouse and child coverage available

Accident Coverage

  • Pays a schedule of benefits if the insured suffers an accident
  • Provides a daily indemnity benefit if the insured is hospitalized due to an accident
  • Pays lump sum benefit if the insured has a catastrophic accident, or dies as a result of an accident
  • Helps fill in gaps with deductibles and co-pays
  • Covers accidents that happen on or off the job
  • Coverage for the base plan is guarantee issue; coverage for the hospital sickness confinement rider is offered on a simplified issue basis
  • Spouse and child coverage available

Enrollment process:

  • Announcement communication and distribution of brochures during the month of April of each year
  • One-on-one employee meetings
  • Conducted by a licensed, salaried Unum representative
  • These planning session are available for every employee
  • Policy election can be made during planning session