Alyssa Lane
The Hartford offers a range of insurance products, including life insurance, which can provide financial security for individuals and their families. In particular, The Hartford's life insurance plans can include dependent child coverage, which offers protection for employees' children in the event of unforeseen accidents or the employee's death. This type of insurance is designed to help ease the financial burden on families and provide support during difficult times. The Hartford's employee benefits packages may also include additional features like will preparation, funeral planning, and travel assistance, ensuring holistic support for employees and their loved ones.
| Characteristics | Values |
|---|---|
| Child coverage amount | $15,000 (standard is $10,000) |
| Child insurance cost | $0.79/month for $10,000 or $0.40/month for $5,000, per family unit |
| Child insurance eligibility | Under 26 years of age |
What You'll Learn
Employee benefits
The Hartford's employee benefits are designed to protect what matters most and have your back. These benefits are separate from your health insurance and can help pay for what health insurance doesn't cover. You can choose from a variety of options to provide additional coverage and protect your future.
Life Insurance
Life Insurance is a key element of financial security and can help relieve financial strain for families and beneficiaries after an employee's death. It is a protection for those you will leave behind, with a cash benefit that can help pay for final plans and offset the loss of future income. The Hartford's Life Insurance also provides other services such as will preparation, funeral planning, and travel assistance.
Dependent Life Insurance
Employees can purchase dependent life insurance for their spouse and eligible children (under 26 years of age). This includes basic dependent life insurance, which offers $10,000 coverage for a spouse and $5,000 for each eligible child, at a cost of $1.00 per month. Additionally, employees can purchase voluntary child life insurance in increments of $5,000, up to a maximum of $20,000, with costs ranging from $1.15 per $5,000 of coverage.
Group Life and Accidental Death and Dismemberment (AD&D) Insurance
The Hartford offers comprehensive coverage with compassionate care. Their group life insurance product provides flexible features, including an enhanced continuity of coverage clause, a living benefit option, a waiver of premium for qualifying disabilities, and a portability and conversion option. Their AD&D insurance, also known as Accidental Loss of Life and Severe Injury Benefits, covers protection for children, spouses, and employees against losses from unforeseen covered accidents.
Income Protection Benefits
The Hartford offers short-term and long-term disability insurance, which replaces part of your income if you're unable to work due to childbirth, illness, or injury. These benefits help secure your income and future, especially during maternity leave or when facing unexpected medical expenses.
Supplemental Health Benefits
Supplemental Health products fill in the gaps left by medical insurance after an illness or accident. This includes accidental injury benefits, critical illness benefits, hospital cash benefits, and more.
The Hartford aims to empower employees to make informed choices and protect their financial futures and the security of their dependents.
Life Insurance Surrender: Tax Implications and You
You may want to see also
Coverage for spouses and children
Life insurance is a crucial aspect of financial security, and The Hartford offers comprehensive coverage options for spouses and children as dependents. Here's an overview of the coverage available:
Spousal Coverage
Spouses of employees can be covered under The Hartford's life insurance plans. The coverage amount for spouses can be up to 100% of the employee's coverage, providing financial security for the family in the event of an unexpected loss. This ensures that the surviving spouse is taken care of and can help relieve financial strain during a difficult time.
Child Coverage
The Hartford also offers life insurance coverage for dependent children. This coverage is available for eligible children under the age of 26. The standard coverage amount for each child is $10,000, but it can be increased to $15,000 if needed. This coverage provides peace of mind and helps protect the family's financial future if the unthinkable were to happen.
Voluntary Child Life Insurance
In addition to the basic dependent life insurance, employees have the option to purchase voluntary child life insurance. This allows for even higher coverage amounts for their children, with increments of $5,000 available up to a maximum of $20,000. This additional coverage provides further financial protection for families with children and ensures they have the resources needed during challenging times.
Accidental Death and Dismemberment Coverage
The Hartford's life insurance plans also include Accidental Death and Dismemberment (AD&D) coverage, which protects spouses and children against losses from unforeseen covered accidents. This coverage can be a vital safety net for families, providing financial assistance in the event of an accident resulting in the loss of motion, sight, limb, or life.
Streamlined Claims Process
The Hartford understands that filing a life insurance claim can be an emotional and challenging process. That's why they have designed a streamlined digital claims submission system to reduce the administrative burden and speed up the processing of benefit payments. Their specially trained Life Care Advocates provide caring support to employees and their beneficiaries during these difficult times.
By offering coverage for spouses and children, The Hartford's life insurance plans provide comprehensive protection for families. This coverage helps ease financial worries, ensuring that loved ones are taken care of and supported during their time of need.
Life Insurance Cash Value: Safe From Creditors' Claims?
You may want to see also
Cost of dependent child life insurance
Dependent child life insurance is a type of life insurance that pays a death benefit to the policyholder if a covered dependent, such as a child, passes away during the policy term. These policies are typically offered through workplace group plans and are designed to cover final expenses, such as funeral costs and travel to the funeral. The cost of dependent child life insurance can vary depending on the insurance provider and the level of coverage.
For example, at Utah State University, employees can purchase dependent life insurance for their eligible children (under 26 years of age) at a cost of $5,000 coverage for each child. The cost is $1.00 per month per child. Additionally, employees can purchase voluntary child life insurance for their eligible children, with coverage ranging from $5,000 to a maximum of $20,000. The cost for this type of policy is $1.15 per $5,000 of coverage purchased. So, for example, $20,000 of coverage for all eligible children in a family would cost the employee $4.60 per month.
It's important to note that dependent child life insurance policies usually have age limits, with coverage typically offered until a child reaches a set age, often 26. There may be exceptions for children with disabilities or other unique needs.
Dependent child life insurance can provide financial protection for end-of-life expenses and help relieve financial stress during grieving. However, it's important to consider the limitations of these policies, as they tend to have small death benefits. Additionally, coverage may be lost if the policyholder leaves their job, as these policies are often tied to workplace benefits plans.
Life Insurance: A Necessary Investment for Peace of Mind
You may want to see also
Voluntary child life insurance
The Hartford's voluntary child life insurance is available for eligible children under the age of 26 and can be purchased in increments of $5,000, up to a maximum of $15,000 (standard) or $20,000, depending on the plan. For instance, at Utah State University, the cost is $1.15 per $5,000 of coverage purchased. So, for $20,000 of coverage for all eligible children, a parent would pay $4.60 per month. This small fee is typically deducted directly from the employee's paycheck.
The process of filing a life insurance claim is never an easy one, and The Hartford aims to make it as straightforward and empathetic as possible. They offer respectful and compassionate support, along with timely decisions and payments. Their specially trained Life Care Advocates provide personal support during difficult times.
The Hartford also offers additional services to employees and their families, such as will preparation, funeral planning, and travel assistance. These benefits provide holistic support and peace of mind for employees, ensuring they feel protected during all life stages.
It is important to note that the specific terms and conditions of voluntary child life insurance may vary based on the employer or university offering the benefit. Additionally, certain age restrictions and eligibility criteria may apply, as outlined in the respective policies.
Life Insurance: Understanding Secondary Guarantees and Their Benefits
You may want to see also
Life insurance options
Life insurance is a crucial aspect of financial security, offering protection for those who depend on you. The Hartford provides a range of life insurance options to meet diverse needs, including dependent child life insurance. Here is an overview of the life insurance choices available:
Dependent Child Life Insurance:
The Hartford offers dependent child life insurance plans, which are typically available for eligible children under the age of 26. This insurance provides coverage for children of employees, ensuring financial protection in the event of unforeseen circumstances. The coverage amount can vary, with options to purchase increments of $5,000, up to a maximum of $15,000 or $20,000, depending on the specific plan. The cost is generally affordable, with a monthly fee per $5,000 of coverage purchased.
Group Life Insurance:
The Hartford's Group Life Insurance plan offers comprehensive coverage with a compassionate approach. It provides protection during challenging times, including accidental death and dismemberment (AD&D) insurance. The claim process is designed to be clear and empathetic, offering respectful support to employees and their beneficiaries. The group life insurance product also includes flexible features, such as continuity of coverage, a living benefit option, a waiver of premium for qualifying disabilities, and portability options.
Voluntary Life Insurance:
The Hartford also offers voluntary life insurance plans, allowing employees to choose additional coverage based on their needs. This includes options for employee coverage, spouse coverage, and child coverage. Employees can select coverage amounts ranging from $25,000 to $250,000, with spouse coverage available up to 100% of the employee's amount. Child coverage can be obtained for up to $15,000. This type of insurance gives employees the flexibility to customize their coverage according to their family's requirements.
Supplemental Life Insurance:
Supplemental life insurance plans, such as those offered by Princeton University, provide the option to purchase additional coverage beyond the basic term life insurance. Employees can elect supplemental life insurance of up to several times their annual base salary or a maximum amount, whichever is less. This type of insurance is typically available to new hires or those newly eligible for benefits, allowing them to elect coverage without providing evidence of insurability.
Basic Life Insurance:
Basic life insurance is often provided as an employee benefit and can include accidental death and dismemberment (AD&D) coverage. This type of insurance is usually based on the employee's annual salary, rounded to a specific amount or up to a maximum limit. For example, an employer may offer basic life insurance coverage of one times the employee's annual salary, up to a maximum of $250,000 or $500,000.
The Hartford's life insurance plans offer a range of options to suit different needs, ensuring financial protection for employees and their dependents. These plans provide peace of mind and help relieve financial strain during difficult times.
Life Insurance Proceeds: Taxable in India?
You may want to see also
Frequently asked questions
Dependent child life insurance is an insurance plan that covers an employee's dependent children in the event of an accident, severe injury, or death.
Hartford's dependent child life insurance provides protection for children of employees against losses from unforeseen covered accidents. It also covers an accidental loss of motion, sight, or limb.
The cost of Hartford's dependent child life insurance varies depending on the amount of coverage purchased. For example, at Utah State University, employees pay $1.00 per month for $5,000 coverage for each eligible child, or $1.15 per $5,000 of coverage purchased for a maximum of $20,000.
Employees can purchase dependent child life insurance for their eligible children, usually those under 26 years of age. The insurance provides a cash benefit that can help pay for final expenses and offset the loss of future income for the child's dependents.
In addition to financial protection, Hartford also offers a streamlined claims submission process, respectful and compassionate support, and guidance through financial protection decisions. They also provide access to online tools and services to help with major life decisions such as will preparation, funeral planning, and travel assistance.
