Life and AD&D Insurance
Life insurance can be an important step in safeguarding your family's overall financial plan. It provides financial support to surviving dependents or beneficiaries after the death of a loved one. It can help pay for funeral expenses, mortgage and car payments, household expenses and school tuition. The amount you will need will be dependent on your needs.
An accidental death and dismemberment policy provides financial benefits to the insured or their beneficiaries in the event of accidental death, serious injury, or dismemberment resulting from an accident.
Plan Summaries
Highlights
Guaranteed Issue
Your coverage may include guarantee issue. Guarantee issue means that you can elect coverage up to a certain dollar amount without having your current or past medical history taken into account nor will you have to submit an Evidence of Insurability form. Please refer to your policy for more information.
Life Includes AD&D
Your Basic Life coverage includes Accidental Death & Dismemberment coverage. This benefit provides coverage if you die by a covered accident or lose a body part as a result of an injury. Dismemberment includes loss of function or use of a body part, including your eyesight, speech or hearing, or losing a body part, such as an eye, finger, or limb.
Accelerated Death Benefit
This policy has a provision that allows you to collect a significant portion of the death benefit while you are still alive should you become terminally ill. The money can be used at your discretion to pay for medical expenses or even to do specific things with your family and friends while you still can. The amount you take out early will be subtracted from the death benefit payment along with interest. Refer to your policy for detailed information.
Conversion/Portability
- Conversion allows you to convert your life insurance to a permanent life insurance policy without going through Evidence of Insurability.
- Portability allows you to continue your current term life coverage without going through Evidence of Insurability.
Why Life Insurance?
Life Insurance Calculator
Use the button below to to access our handy Life Insurance Calculator to find out if you have enough insurance for you and your family.
Example – For Illustrative Purposes Only
Total Paid to Beneficiary
Accidental Death
$50,000
Life Amount
$50,000
Total Paid to Beneficiary
$100,000
Accidental Death Example:
Jacob had a car accident in which he passed away from his injuries. He had a $50,000 life insurance policy through his employer. His beneficiary would receive $50,000 for his death and $50,000 due to his death being accidental.
Value Added Benefits
Bereavement Counseling
Travel Assistance
File a Claim
How to file a claim
Frequently Asked Questions
What is Life Insurance?
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
Do I really need life insurance?
A simple way to answer this is by asking: "Do I have anyone dependent on my salary to sustain their standard of living?" In other words, if you were to pass, would those still alive have issues covering the cost of your burial? Covering rent or mortgage payments and other bills? What about any remaining medical costs? Would they have enough money to cover those and still maintain their normal life? If the answer to any of these is "No, they wouldn't," then you should consider what life insurance options work best for you and your needs.
Do I need to take an exam?
Your policy may have a guarantee issue limit. Guarantee issue means that you can elect coverage up to the guarantee issue limit without medical questions or Reliance taking your current or past medical history into account. Any amounts over the guarantee issue will require evidence of insurability.
What does Accidental Death mean?
An AD&D insurance policy will payout in the case of an accident or a health-related incident. This suggests that the insured's death was not caused or led to by a disease. Accidental fatalities include motor vehicle/heavy machinery accidents, falls and drowning.
What is the definition of Dismemberment?
The advantage of AD&D insurance plan is that they pay only if the insured is accidentally dismembered in any way. The loss of an appendage, sight, hearing or another bodily function is referred to as dismemberment.
What is a beneficiary and can anyone be my beneficiary?
A life insurance beneficiary is an individual, entity, trustee, or estate named by the policy owner to collect the death benefit proceeds upon the insured's death. There are two types of beneficiaries:
- Primary beneficiary: The first one in line to collect the death benefit upon the insured's death.
- Contingent beneficiary: Also known as a secondary beneficiary, is the second one in line to collect the benefit if the primary beneficiary is deceased.
Refer to your highlight sheet and/or certificate of insurance for actual benefit coverage.