BENEFITS

Benefits Overview

ACCIDENT

Accidents can happen to anyone

No matter who you are, what you do or where you live, accidents can happen.  Too often, they result in unexpected out of pocket costs, such as emergency room fees, doctor's bills, and lost income due to time off from work.  These expenses can really add up at a time when you can least afford it.

Colonial Life's Accident plan pays benefits to you directly, which can help offset out of pocket expenses of a covered accident. This way you can focus on what really matters -healing. 

CRITICAL ILLNESS

No matter your age or state of health, a sudden illness could significantly affect your financial well-being. When health insurance won’t cover certain medical expenses, critical illness insurance can help.

Critical illness insurance can complement major medical coverage by providing a lump-sum benefit for an employee diagnosed with a covered critical illness, such as heart attack, stroke, coronary artery bypass surgery, end stage renal failure or major organ transplant - among others. Benefits are typically paid directly to the employee, so they can be used where they’re most needed.

HOSPITAL CONFINEMENT

No matter how well you plan, you can’t predict when sudden medical expenses could impact your way of life. Health insurance helps,but it doesn’t cover everything. For instance, the average family has more than $4,500 in out-of-pocket medical costs each year.

If you’re admitted to the hospital for a covered accident or covered sickness, Colonial's hospital indemnity insurance, could help pay for out-of-pocket expenses, such as deductibles, co-payments and other expenses.  

Hospital confinement indemnity insurance provides a lump-sum benefit to help with out of pocket costs related to a hospital stay, outpatient surgery, diagnostic tests, doctors' appointments and emergency room trips.

DISABILITY

No matter where you are in life, a disability can prevent you from earning an income. 

Approximately 90% of all disabilities are caused by illness rather than accidents. 

Your bills continue, even if your paycheck doesn't.

Think about your ongoing monthly expenses - everything from your mortgage or rent to your groceries and utilities. If a disability left you without a paycheck, you might rely on savings as a backup plan, but would you have enough? 
Disability insurance can help you pay for your expenses and keep you focused on what really matters - - recovery. 

Disability insurance replaces a percentage of an employee’s income if they become disabled as a result of a covered accident or sickness to help them continue to make ends meet while they’re out of work.

LIFE

Many families struggle to make ends meet. As a result, some find it difficult to make life insurance a priority, despite the valuable financial protection it can provide. 

Americans need more coverage

  • Half of U.S. households (58 million) say they need          more life insurance.

  • Four in 10 households with children under 18 include mothers who are either sole or primary earner, yet their life insurance coverage is only 69% of men's average coverage. 


Other financial priorities compete with Life Insurance 

  • More then half of consumers report "everyday expenses" (energy costs, food, clothing and transportation) limit their ability to save.

  •  86% of Americans say they haven't bought life insurance because it's too expensive, yet they overestimate its true cost by more than two times.


Life insurance pays out a lump sum to help provide financial protection for an employee’s family members in the event of death. Coverage can be updated to reflect changes in life such as getting married, buying a home or having a child. Most plans offer spouse and children coverage.   

CANCER

Did you know...


While heredity and environment factors can play a role, cancer can impact any of our lives. 

  • In the United States, men have a 1 in 2 lifetime risk of 
    developing cancer. For women, the risk is 1 in 3.

  • In 2018, an estimated 1,735,350 new cases of cancer will be diagnosed in the United States and 609,640 people will die from the disease.

The risk of developing cancer, unfortunately, is very real. Nearly everyone has experienced or knows somebody who has experienced a cancer diagnosis in their family. Cancer coverage from Colonial Life offers the protection you need to concentrate on what is most important - your care. 

DENTAL & VISION

Regular dental care is an important part of maintaining overall health. However, dental cleanings and procedures aren’t usually covered by health insurance, potentially leaving your employees with bills to pay.

Colonial Life dental insurance encourages better dental care, creates a more competitive benefits package and helps reduce out-of-pocket expenses for an array of procedures, including:

  • Cleanings

  • Fillings

  • Sealants

  • Tooth Removal

  • Crowns

  • Dentures

 

Enhance your employee's dental insurance with vision coverage.


Colonial Life dental insurance offers an optional vision rider to help pay for eye exams and materials, such as glasses and contact lenses. This additional coverage can help your employees maintain healthy vision and overall wellness.