Insurance that is available through the group plan and is paid for solely by the employee. There is no employer contribution to the cost of Voluntary Benefits and each person can pick and choose the coverage that meets their individual needs.
Voluntary Life- an insurance policy contract between the policy owner and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness..
Voluntary AD&D- insurance that provides an additional face amount double to the voluntary life face amount in the event of an accident. Also provides reimbursement for certain dismemberments due to an accident. It is offered to members of a group as a separate, elective benefit, and premiums are generally paid as a payroll deduction.
Voluntary Short-Term Disability- a form of insurance that helps to protect the income of employees by providing a percentage of salary while recovering after an injury, accident, sickness, or maternity leave up to the elimination time period specified in the group plan. The premium is paid by the employee.
Voluntary Long-Term Disability – a form of insurance that protects the income of an employee by providing income against the risk if the individual working becomes in-able to perform any or all of their job duties therefor making it impossible to earn an income.
Voluntary Dental- Insurance designed to pay a portion of the costs associated with dental care. The coverage options may include preventative services such as cleanings and other expenses such as fillings, crowns, root canals, etc If purchased on a voluntary basis, the employee is responsible for a portion or all of the premium.
If you need information about any of our services, please feel free to use our contact form, send us an e-mail to info@cfagroup.com, or give us a call at (800) 324-8965 or (828) 324-2000.
