Humana's Life Insurance: What You Need To Know

Humana is a health insurance company that offers a range of healthcare-related insurance products, including health, dental, and vision, and life insurance. The company has been in business since 1961 and is the third-largest healthcare company in the US, serving over 13 million customers. Humana offers group life insurance plans for businesses to protect their employees and their families, as well as supplemental term life insurance plans for employees who want additional coverage. The company also provides individual and family health insurance plans, with options for adding dental and vision coverage.

Humana's group life insurance plans

Humana does offer life insurance plans, including group life insurance plans. These plans are designed to help businesses protect their employees and their families. With Humana's group life insurance, employees can select from a range of employer-funded coverage options to ensure their loved ones are taken care of after their passing. This includes options to cover spouses and dependent children.

Another key feature of Humana's group life insurance plans is the option for accelerated benefits for terminal illness. This provides financial support when it's needed most. Humana also offers benefits for the death of a spouse and children, providing additional security for employees' families. For those seeking more comprehensive coverage, Humana provides optional accidental death and dismemberment (AD&D) coverage, as well as a waiver of premium provision.

Supplemental Term Life plans are also available for employees seeking coverage beyond the basic term life plan. These plans are employee-paid and offer increased control over how they protect their financial future. Employees can increase their overall life insurance coverage and add on features like accelerated benefits. One notable advantage of Supplemental Term Life plans is portability, allowing employees to retain their benefits if they leave their current employer.

Supplemental term life insurance

Humana offers Supplemental Term Life Insurance for employees who want coverage beyond the basic term life plan. This optional, employee-paid benefit offers additional peace of mind and gives employees more control over how they protect their financial future.

Features of Supplemental Term Life Insurance

• Guaranteed issue amounts based on the number of full-time eligible employees
• Benefit for the death of a spouse until age 65
• Benefit for the death of a child aged 15 days to 26 years
• Portability – Employees can take their benefits with them if they leave their employer (state-specific and not available in all states)
• Waiver of premium – Premiums for a covered person are waived after total disability for 6 months beginning before their 60th birthday (until age 65)
• Guaranteed conversion – If an employee or dependent loses coverage due to the employee's loss of employment, loss of eligibility, or reduction for age, the coverage can be converted to an individual whole life insurance policy
• Accelerated benefit for terminal illness – Benefit of 50% of basic group term insurance (not to exceed $250,000) payable upon proof of terminal illness
• Optional AD&D coverage – Provides compensation in the event of certain disabling accidents or accidental loss of life

Plan Options

Supplemental life plans are available to groups with 5 or more enrolled employees. Here are the plan options:

• Employee coverage – A flat coverage amount in $1,000 increments with a minimum of $15,000
• Spouse coverage – $1,000 increments up to 50% of employee amount ($5,000–$250,000)
• Dependent child coverage – $500–$10,000

Life insurance for employees

Humana offers life insurance plans for both individuals and groups. Group life insurance plans are available for employers to provide their employees with financial protection. These plans are designed to help businesses protect their most valuable asset—their employees.

Humana's group life insurance plans include several features to support employees and their families. The company prioritises prompt payment to beneficiaries, ensuring they can quickly resolve financial concerns. Humana also provides direct access to their specially trained life insurance staff, rather than an automated system, for a more personalised experience during difficult times. Additionally, they offer online claim forms to simplify and expedite the process of filing a life claim.

Humana's group life plans offer a range of coverage options. Employees can select from various employer-funded choices to ensure their family is taken care of after their passing. These options can cover not only the employee but also their spouse and dependent children. The plans also include accelerated benefits for terminal illness and benefits for the death of a spouse or child. Optional accidental death and dismemberment (AD&D) coverage is also available, providing additional peace of mind.

For employees seeking more comprehensive coverage, Humana offers supplemental term life insurance plans. These optional, employee-paid plans empower individuals to have more control over how they protect their financial future. The supplemental plans include guaranteed issue amounts based on full-time eligible employee numbers, benefits for the death of a spouse or child, portability, waiver of premium after total disability, guaranteed conversion to an individual policy if employment is lost, accelerated benefits for terminal illness, and optional AD&D coverage.

Humana's life insurance plans provide flexibility, allowing employees to increase their overall coverage and customise their benefits to meet their unique needs. The company is committed to supporting individuals, families, and businesses by offering tailored solutions to protect their financial well-being.

Free and paid options

Humana offers both free and paid life insurance options. The company provides a range of healthcare-related insurance products, including health, dental, vision, and life insurance.

The free option for life insurance is available to employees, with the possibility of purchasing additional coverage. This free benefit can be equivalent to or double the employee's salary. Employees can also opt for the paid option to increase their coverage.

Humana's group life insurance plans are designed to help businesses protect their employees. These plans include features such as prompt payments to beneficiaries, direct access to specially trained life insurance staff, and online claim forms. The rates are guaranteed for two years, providing financial peace of mind.

Supplemental term life insurance is another option offered by Humana. This employee-paid benefit provides additional coverage beyond the basic term life plan. It includes guaranteed issue amounts, benefits for the death of a spouse or child, portability, waiver of premium in cases of total disability, guaranteed conversion, accelerated benefits for terminal illness, and optional accidental death and dismemberment coverage.

Humana's life insurance plans offer flexibility, allowing individuals to choose the level of coverage that best suits their needs. The company's insurance products are tailored to provide financial protection and peace of mind for individuals and their families.

Humana's life insurance availability

Humana offers life insurance plans for both individuals and groups.

Individual Life Insurance

Humana offers a range of individual insurance products, including health, dental, vision, and life insurance. These plans can be tailored to fit the needs of the individual, with optional add-ons such as vision coverage.

Group Life Insurance

Humana's group life insurance plans are designed for businesses that want to protect their employees. These plans include features such as prompt payments to beneficiaries, direct access to specially trained life insurance staff, and online claim forms. Employees can also select from a range of coverage options, including employer-funded plans that cover themselves, their spouses, and dependent children.

Additionally, Humana offers supplemental term life plans, which are employee-paid and provide additional coverage beyond the basic term life plan. These plans include benefits such as death benefits for spouses and children, portability, waiver of premiums in cases of total disability, guaranteed conversion to an individual policy, and optional accidental death and dismemberment coverage.

Humana's group life insurance plans are offered by Humana Insurance Company and Humana Insurance Company of Kentucky, with specific availability varying by state.

Frequently asked questions