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Supplemental Life Insurance
Supplemental Life 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.
Plan Summaries
Staff Employees
Resident Employees
Physicians and Certified Registered Nurse Anesthetists
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.
Accelerated Death Benefit
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
Depending on your coverage, conversion or portability may be included.
- 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?
Example – For Illustrative Purposes Only
Accelerated Death Benefit Example
| Life Amount | $100,000 |
| Total Paid to Anne | $50,000 |
| Total Paid to Anne’s Beneficiary at the Time of Her Death | $50,000 |
Anne was diagnosed with a terminal illness and has less than 12 months to live. Anne doesn’t want to leave the burden on her family members to make her final arrangements. Since her $100,000 life insurance policy has an Accelerated Death benefit, Anne filed a claim to receive $50,000 of the proceeds to help pay for the funeral expenses and pay off some other expenses.
File a Claim
How to file a claim
To improve your claims experience, this document explains how to submit a claim.
File a claim
Want to file online? Click the button below to start your 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 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.