2018 Buchanan Hauling Benefit Guide
Life, AD&D, Critical Illness, and Accident Insurance SunLife Employee Benefits
CRITIAL ILLNESS AND CANCER INSURANCE
LIFE AND ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) INSURANCE: Part of planning for the financial health of your family is to make sure they are taken care of, even in the event of a death or accident. To help you protect your family, Buchanan Hauling offers basic life and AD&D insurance that can be purchased on the Marketplace. Coverages Basic Life and Accident Insurance Buchanan provides the opportunity to purchase life insurance in increments of $10,000 up to a maximum of $100,000. The minimum benefit is $20,000 and the maximum without completing medical questions is $100,000. Spouse: You may also purchase life insurance on your spouse in $5,000 increments up to $50,000, not to exceed 50% of your life benefit. Children: Insurance may be purchased for children from live birth through 19 or under 25 (if full-time student) in amounts of $1,000, $5,000, or $10,000 not to exceed the spouse’s benefit amount.
Critical Illness insurance provides a lump sum cash benefit when the insured experiences a covered condition. This lump sum payment can be spent on anything – whether it is directly related or not to the critical illness including: • Medical copays and deductibles • Mortgage and rent payments • Other household expenses Your benefit is paid in full regardless of any other insurance you may have in force. Critical illness typically covers the following: • Heart Attack • Variety of other conditions depending on the policy Also included is a wellness benefit that pays the cost of one health screening test per calendar year, up to $50 maximum. ACCIDENT INSURANCE Accident insurance provides coverage for a wide variety of accidental injuries, including broken bones, concussions, and burns, and covered events such as medical treatment or hospitalization due to an accident. It pays benefits according to a flat schedule . • Stroke • Cancer
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