New products and added extras!
Our Group Term Life Plans
Options Available with Term Life
Group Universal life

As costs and competition escalate on almost every business front, Group Life Insurance products at competitive rates from Aetna Life Insurance Company (Aetna) is a valuable component of your employee benefits plan -- adding little or no expense for your company, and while meeting the needs of key employees.

We'll work with you to create a group life program that meets your company's needs, budget and company culture - now and as your company grows and changes.

We offer a full range of group term life and universal life coverages with:

options in plan design

flexible underwriting to design a plan best suited to your company culture

funding and cash-flow options

a variety of consumer-friendly features and options designed to help you meet the needs of your employees

AD&D Ultra™ -- our leading-edge package of Accidental Death and Personal Loss coverages, offers a total of 13 benefits that set the industry standard for family-friendly accidental loss protection.

Customer-specific web pages available at no charge providing you with a technology-based solution to streamline information flow and simplify plan management.

Basic term life for groups of 10+ employees

Employer-paid.

Offered in flat amount schedules, in multiples of salary or by job classification.

Usually employee-paid with affordable group rates.

Enriches the basic term life plan with additional coverage.

Offers higher amounts of insurance than the basic term plan.

For certain amounts of coverage, evidence of good health may be needed.

Portable supplemental term life- for groups of 300+ employees

Costs your company nothing but payroll deduction administration.

Allows employees to take their life insurance with them if they leave for reasons other than retirement or disability (limitations in some states).

Coverage stays in effect as a term life benefit with no cash value (even if the original plan ends).

Coverage is accounted in a "ported" pool, not in your plan.

Rates are slightly higher than basic term rates for employees, but still lower than individual policy rates would be.

Aetna is one of the first to offer this program, valued highly by employees.

Dependents' term life

Extends protection to your employees' families, in flat amounts and at an additional employee expense.

Spouse coverage can be a percentage of the employee's salary.

For certain amounts of coverage, evidence of good health may be needed.

Premium waiver

Available at additional expense to help employees who become permanently and totally disabled.

Life coverage stays in effect with no need to pay premiums once a disability claim is approved.

Allows your employees to convert term life coverage to an individual whole life insurance policy without submitting evidence of good health.

Applies when your employees leave your company, retire, or when the plan ends. The person must elect coverage within 31 days and agree to pay the premium for the coverage.

Applies when coverage reduces because of age, pension, or retirement.

Known as a "living benefit," at no additional cost.

Allows terminally ill employees to access 10-75% of their life insurance coverage amount to pay bills, cover medical treatments and maintain their families' lifestyles during the illness.

Unlike some of our competitors, we do not require your employee to surrender (give up) their policy in order to receive the living benefit, so their beneficiaries (heirs) will still get most of the insurance money intended for them.

Can apply to your employees in any of our term life plans.

Aetna Benefits Checkbook - a convenient, no-cost service for group life insurance beneficiaries. Provides immediate access to cash without requiring the beneficiary to make any long term financial decisions by depositing group life insurance proceeds of $5,000 or more into an interest-bearing checking account in the beneficiary's name.

Toll-free Financial Needs Analysis - provides qualified financial representatives, trained in bereavement counseling, to answer financial and estate questions.

Beneficiary Management

Simplifies employer's role in group term life administration, offered at additional cost.

An on-line, real-time process of tracking and maintaining group life beneficiary designations.

Our Group Universal Life program solves your employees' dilemma of whether to buy life insurance or save for the future -- it allows them to do both. Employees can specify an amount of term insurance, and contribute to an optional cash accumulation fund with guaranteed interest rates for tax-deferred savings.

All of this can be implemented at no direct cost to your company, since universal life is paid for by your employees and Aetna does the administration for you - installation, enrollment and ongoing support.

How the Group Universal Life Plan Works

Based on the schedule you choose to offer, either multiples of salary or flat dollar amounts (in $10,000 increments).

Your employees and their spouses may choose a specific amount of term life insurance.

Paid through payroll deduction.

An optional side fund, the Cash Accumulation Fund, allows employees and their spouses to save for the future. Your employees can choose how much to contribute to the fund monthly, and they can change the amount or discontinue it at any time.

Evidence of good health is required only for certain amounts of coverage.

Employees' spouses and children can be covered.

The plan is portable. (Rules may vary by state.).

The conversion feature allows employees to convert the group universal life to individual permanent life insurance for amounts that are lost due to age, retirement or pension. Applies to covered spouses and children, too.

Customer service reps are available toll-free to help your employees.

Money in the side fund earns competitive, tax-free interest rates; loans and withdrawals are allowed.

When retiring or leaving the company, employees can use the side fund to purchase permanent life insurance without proof of good health, at the guaranteed rates stated in your policy.

Allows employees who become permanently and totally disabled before age 60 to continue their own coverage (for an additional cost) without paying premiums once they have been approved for premium waiver.

Known as a "living benefit," at no additional cost. Allows terminally ill employees to access 10-75% of their life insurance coverage amount to pay bills, cover medical treatments and maintain their families' lifestyles during the illness. Unlike some of our competitors, we do not require your employee to surrender (give up) their policy in order to receive the living benefit, so their beneficiaries (heirs) will still get most of the insurance money intended for them. Can apply to your employees in any of our term life plans.

Pays an additional amount if your employee or covered spouse dies as a result of an accident.

The additional payment is in the amount of the policy coverage, up to a $1 million maximum.

Aetna Beneficiary Solutions

Aetna Benefits Checkbook - a convenient, no-cost service for group life insurance beneficiaries. Provides immediate access to cash without requiring the beneficiary to make any long term financial decisions by depositing group life insurance proceeds of $5,000 or more into an interest-bearing checking account in the beneficiary's name.

Toll-free Financial Needs Analysis - provides qualified financial representatives, trained in bereavement counseling, to answer financial and estate questions.

Simplifies employer's role in group term life administration. Offered at additional cost.

An on-line, real-time process of tracking and maintaining group life beneficiary designations.