Blue Cross Blue Shield: Life Insurance Options Explored

Blue Cross Blue Shield is a nationwide health insurance company that offers a range of insurance products, including health, dental, vision, and life insurance. They are committed to making health care insurance easy, affordable, and attainable for everyone. Blue Cross Blue Shield offers life insurance products through partner companies, such as Guardian Life Insurance Company of America and Advance Insurance Company of Kansas. These life insurance plans provide financial protection for loved ones in the event of an untimely death, covering burial or other final expenses. The company also provides additional services, such as Beneficiary Resource Services, to assist policyholders and their beneficiaries in managing legal and emotional issues that may arise after a loss. With a focus on accessibility and a range of options, Blue Cross Blue Shield aims to make life insurance more accessible and comprehensive for individuals, families, and small businesses.

Blue Cross Blue Shield life insurance plans

Blue Cross Blue Shield (BCBS) offers a range of life insurance plans to provide financial protection for individuals and their loved ones. While the specific plans and features may vary by location and provider, here is an overview of the types of life insurance options generally available through BCBS:

Term Life Insurance:

BCBS offers term life insurance plans, as indicated by Blue Cross and Blue Shield of Kansas (BCBSKS). This type of insurance provides coverage for a specific number of years, known as "terms," with a fixed rate of premium. For example, BCBSKS offers a $10,000 term-life insurance plan with lower initial rates than other forms of life insurance and a guaranteed rate for the first 10 years. Their term life insurance is renewable until the age of 95 as long as premium payments are maintained.

Individual Term Life Insurance:

Blue Shield of California (BSCA) provides individual term life insurance plans, which can be purchased without a medical plan. These plans range from $10,000 to $100,000 and are subject to medical underwriting for approval.

Employer-Sponsored Group Plans and Voluntary Group Plans:

Blue Cross and Blue Shield of Illinois (BCBSIL) work with producers and employers to offer both employer-sponsored and voluntary group plans for employees. These plans can include basic, supplemental, or voluntary options, with optional coverage for spouses and dependents.

Accidental Death & Dismemberment (AD&D) Insurance:

Both BSCA and BCBSKS offer AD&D insurance, which provides an additional cash benefit in the event of an accidental death or dismemberment. This coverage can be purchased as a rider to a term life insurance policy, providing extra protection.

Small Business Plans:

Anthem Blue Cross Blue Shield (Anthem BCBS) provides small business plans with a range of options, including life insurance. These plans are designed for groups with 2 to 50 or 100 employees, depending on the state. They offer flexible group insurance plans that allow employers to choose from various medical, pharmacy, dental, vision, life, and disability coverage options.

Guardian Life Insurance Plans:

Independence Blue Cross (IBC) offers life insurance products through the Guardian Life Insurance Company of America. These plans include basic life, voluntary life, and standard or enhanced AD&D insurance. Guardian life insurance plans provide flexible and comprehensive coverage, with competitive pricing and discounts on medical premiums for employer-funded plans.

It is important to note that specific plan availability, features, and pricing may vary by state and local BCBS providers. Individuals interested in BCBS life insurance plans should contact their local BCBS company or a licensed insurance agent to discuss their specific options and requirements.

Coverage for spouses and dependents

Blue Cross Blue Shield (BCBS) offers life insurance coverage for spouses and dependents. This includes basic term life insurance at no cost, as well as additional life insurance buy-up options and the opportunity to purchase supplemental group universal life insurance for oneself and/or one's dependents.

Spouses and dependents are also eligible for health, dental, and vision plans. BCBS defines a dependent as a spouse (including common-law and same-sex spouses) and children under the age of 26, including legally adopted children, stepchildren, recognised natural children, and children of same-sex marriages. Foster children are also included if they live with the policyholder in a regular parent-child relationship.

Children over the age of 26 can also be considered dependents if they are incapable of self-support due to a mental or physical disability that existed before the age of 26. To prove this, a medical certificate from a doctor is required, which must include:

• The child's name and birth date
• The type of disability
• The period of time the disability has existed and the date the impairment began
• Diagnosis and history of the specific medical condition(s), as well as references to findings from previous examinations, treatment, and responses to treatment
• Clinical findings from the most recent physical examination, including objective findings, results of laboratory tests, x-rays, EKGs, and other special evaluations or diagnostic procedures
• In the case of psychiatric disease, the findings of mental status examinations and the results of psychological tests, if applicable
• Assessment of the current clinical status and plans for future treatment
• Assessment of the degree to which the medical condition has become static or stabilized, and an explanation of the medical basis for the conclusion
• The special supervisory, physical assistance, or custodial care requirements for the child
• Any treatments, rehabilitation programs, educational training, or occupational accommodation that would result in the child becoming self-supporting
• The doctor's name, signature, office address, and telephone number

In addition to health, dental, and vision plans, BCBS also offers spouses and dependents access to a range of financial wellness programs, including online resources, discounted financial planning, and financial education workshops.

Coverage for final expenses

Final expense insurance, also known as burial or funeral insurance, is a whole life insurance policy that covers medical bills and funeral expenses. It is a popular choice among seniors due to its affordable price, smaller benefit amounts, and focus on covering funeral costs. The average cost of a funeral is around $8,300 to $9,000, which can be a significant financial burden for grieving loved ones. Final expense insurance can help ease this burden by covering end-of-life medical expenses and funeral costs, allowing families to focus on their healing process.

Blue Shield of California offers individual term life insurance plans that can contribute towards funeral expenses and other daily living expenses. These plans can be purchased as standalone coverage without a medical plan, with benefit amounts ranging from $10,000 to $100,000. Additionally, Blue Cross and Blue Shield of Illinois provide life insurance plans that can be used to cover burial or other final expenses. These plans include optional Accidental Death & Dismemberment coverage and accelerated death benefits.

Final expense insurance policies typically have several key features. They offer whole life insurance with no expiration as long as premiums are paid. The policies may accumulate cash value, allowing the insured to take out a policy loan. Premiums remain fixed as long as they are paid on time. The application process is simplified, usually requiring only health questions on a form rather than a full medical exam. Coverage approval can be obtained within days, providing peace of mind for individuals and their families.

When considering final expense insurance, it is important to review the specific benefits and features offered by different insurance companies. Some policies may include additional support, such as funeral price shopping or legal and accounting services. By understanding the coverage options and choosing a plan that meets your needs, you can ensure that your loved ones will have the financial support they need during a difficult time.

Coverage for young and healthy individuals

Blue Cross Blue Shield (BCBS) offers a range of health insurance options for individuals and families, including young and healthy individuals. BCBS is committed to making healthcare insurance easy, affordable, and attainable for all. They have been a trusted provider for 90+ years, serving families across the country.

When it comes to life insurance, BCBS, through its various local companies and partners, provides different plans to cater to individuals' needs. Term life insurance, for example, is a simple way to protect loved ones. It offers protection for a set number of years, with a fixed rate of premium. BCBS of Kansas offers a $10,000 term-life insurance plan with lower initial rates than other forms of life insurance and a guaranteed rate for the first 10 years. This plan provides protection against final expenses, with no physical exam required, only a few health questions.

Additionally, BCBS of California offers individual term life insurance plans ranging from $10,000 to $100,000. These plans can be purchased as standalone coverage without a medical plan, and all requests are subject to medical underwriting.

For small businesses, BCBS offers life insurance products through the Guardian Life Insurance Company of America. Guardian life insurance policies are flexible and comprehensive, allowing for customization that includes basic life, voluntary life, and standard and enhanced accidental death and dismemberment (AD&D) insurance. Adding Guardian life insurance plans to medical benefits provides a generous guarantee issue, allowing employees to take advantage of coverage regardless of their health history.

Furthermore, BCBS of Illinois provides both employer-sponsored group plans and voluntary group plans for employees, with optional coverage for spouses and dependents. Their life insurance plans also include optional AD&D coverage and accelerated death benefits.

While discussing life insurance may not be easy, it is crucial for young and healthy individuals to consider. Securing coverage now provides immediate protection and ensures the ability to renew coverage at affordable rates. Any future illness or injury may make life insurance expensive or even unattainable. Therefore, young and healthy individuals can benefit from the various life insurance options offered by BCBS and its partners, ensuring financial protection for themselves and their loved ones.

Coverage for small businesses

Blue Cross and Blue Shield offer a range of insurance options for small businesses, including health, life, dental, and disability insurance. Their services are designed to help small businesses attract and retain top talent by providing a healthier and more productive workplace for employees.

For small businesses, Blue Cross and Blue Shield offer both employer-paid and voluntary group plans for employees. These plans include basic, supplemental, or voluntary options, with optional coverage for spouses and dependent children. Additionally, they provide accidental death and dismemberment coverage with no reduction of benefits with age.

Blue Cross and Blue Shield of Illinois (BCBSIL) provides a variety of coverage options tailored to the specific needs of businesses and their employees. Their services help employees make informed choices about their health and wellness, contributing to improved productivity for the business.

In Texas, Blue Cross and Blue Shield work with employers to provide employer-sponsored group plans and voluntary group plans. They also offer optional Accidental Death & Dismemberment coverage.

The Guardian Life Insurance Company of America, in partnership with Independence Blue Cross, offers life insurance products for small businesses. These policies are flexible and comprehensive, allowing businesses to customize coverage, including basic life, voluntary life, and standard and enhanced accidental death and dismemberment (AD&D) insurance.

Anthem Blue Cross Blue Shield also offers small business plans with a full range of health insurance options for groups of varying sizes, depending on the state. They provide flexible group insurance plans that include medical, pharmacy, dental, vision, life, and disability coverage.

Frequently asked questions