A Guide to Paying Your Reliastar Life Insurance Bill Online

Premier Whole Life Insurance

Premier Whole Life Insurance is employee-paid whole life insurance, which provides employees the opportunity to purchase life insurance that accumulates cash value. This is one way employers can offer valuable benefits in a cost-effective manner.

• Coverage isn’t tied to employment: If employees leave their employer or retire, they can take the policy with them and choose one of a number of convenient payment plans.
• Premiums don’t fluctuate: The purchased insurance coverage and payment amounts are guaranteed to be fixed for the life of the policy, as long as the required premium payments are met.
• Policy has cash value: Whole life insurance builds guaranteed cash values as long as payments continue to be made. Once cash value accumulates, the policy owner can borrow against that value at the rate shown in the policy. The death benefit will be reduced by the amount of any outstanding loan and unpaid accrued interest.
• Payroll deduction: Premiums are paid through convenient employee payroll deductions.

Availability and provisions may vary by state and some require one-on-one enrollment with a licensed insurance producer. Description

Product features Details

Employers can customize coverage by selecting from a variety of optional additional benefits they can offer to employees, including:

• Accelerated Benefit (ABR):* Allows access to funds up to 50% of the eligible death benefit upon diagnosis of a terminal illness while the insured is still living.
• Accidental Death Benefit (ADB): Provides an additional benefit equal to the base policy face amount, up to a maximum of $150,000, if insured dies as a result of a covered accident. Available to eligible employees and spouses age 15 through 60 years. Coverage terminates on the policy anniversary following age 65.
• Level Term to Age 65 Benefit (LT 65): Provides a term life insurance benefit of 50 or 100 percent of the base policy amount until age 65. Coverage available to eligible employees and spouses age 18 through 55 years.
• Waiver of Premium Benefit (WOP): Waives the monthly premiums of the base policy and any benefits after the insured has been totally disabled for four consecutive months. Available to eligible employees under 56 years of age.
• Children’s Term Insurance Benefit (CTR): Provides a fixed amount of term life insurance coverage with one premium rate for all eligible unmarried, dependent children ages 15 days through 24 years.

The following benefits are only available to be elected through one-on-one enrollment with an enroller who is a licensed insurance producer. They are not available for self-service enrollments:

• Accelerated Death Benefit (ADBR):* Allows insured access to death benefit in the event a physician diagnoses them with a terminal illness or they suffer a sickness or injury that requires qualified care.
• Long Term Care Benefit (LTC):* Allows insured to receive accelerated payment of their death benefit if they’re receiving qualified care to assist with daily living. The policy death benefit is reduced by the amount of LTC payment. Minimum policy face amount of $12,500 needed to elect this rider.

Other features:

• Re-enrollment offers
• Loans and no surrender charges
• Reduced paid-up and extended term options
• Beneficiary support services

*Receipt of the accelerated benefit may be taxable, or may adversely affect your eligibility for Medicaid or other government benefits. You should consult your personal tax advisor to assess the impact of this benefit.

Group Term Life Insurance

Group Term Life Insurance provides a benefit payment to the beneficiaries of a policyholder who passes away during a specific period of time or term. The benefit can be used for funeral expenses, co-signed loan debt, future education — even day-to-day expenses.

It also includes features that fit organizations, including basic life insurance, supplemental life insurance, accidental death & dismemberment (AD&D) insurance, and spouse and children life insurance.

• Add value to benefits packages: Employers can easily add on services to support employees, such as an Employee Assistance Program (EAP), funeral planning, will prep, concierge services and Voya Travel Services. Availability may vary by state.
• Services that save time: We can manage the Evidence of Insurability (EOI) process, making it easier for employers. And employees benefit from online or paper-based systems — whatever works best for them.
• Additional options available: Employers can also choose to offer continuation, portability and conversion features to best meet their employee population’s needs.

Description

Product features Details

Premiums are automatically deducted from an employee’s paycheck. If employees choose coverage beyond the guaranteed issue amount, they may need to complete Evidence of Insurability (EOI), which is an application where the applicant answers health questions in order to get certain types of insurance. When EOI is required, the insurance company must approve it before coverage becomes effective.

Additional options:

• Accidental Death Insurance: Pays a benefit (in addition to the life insurance benefit) to beneficiaries if insured dies as a result of a covered accident.
• Accelerated Death Benefit:* If insured has a medical condition that requires permanent continuous confinement in an institution or is diagnosed with a terminal illness with a limited life expectancy, they may receive a portion of the death benefit while they’re still living.
• Waiver of Premium: If insured isn’t working because they are totally disabled, they’re allowed to keep coverage for a period of time without paying premiums.
• Continue or convert coverage: If employment ends or insured no longer meets employer’s eligibility criteria, insured may have the option to continue coverage by paying premiums directly to the insurance company. They may also have the option to convert coverage into an individual Whole Life Insurance policy — coverage for spouse or children is also available.

A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders.

*Receipt of the accelerated benefit may be taxable, or may adversely affect your eligibility for Medicaid or other government benefits. You should consult your personal tax advisor to assess the impact of this benefit.

Other non-insurance services also provided:

• Bereavement Support, including Funeral Planning & Will Preparation services
• Employee Assistance Program (EAP)
• Voya Travel Assistance

Bereavement Support, including Funeral Planning & Will Preparation services are provided by The Empathy Project, Inc., New York, NY. Product availability and specific provisions may vary by state.

Employee Assistance Program services are provided by ComPsych® Corporation, Chicago, IL. Services are not available in all states.

Voya Travel Assistance services are provided by Generali Global Assistance, Inc., Pembroke Pines, FL. Services and availability may vary by state. Not available in New York.

This is a summary of benefits only. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern. To keep coverage in force, premiums are payable up to the date of coverage termination. Group Term Life Insurance is issued and underwritten by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Policy form #ICC LP14GP or LP00GP; Policy form # LP14GP-NY. Form numbers, availability and provisions may vary by state.

Life insurance premiums are the payments you make to keep your policy active