Whole Life

Unum’s portable Whole Life Insurance offers lifelong peace of mind by providing permanent coverage that you can keep for as long as you need. Once you secure your policy, your premiums are locked in and will never increase with age. Additionally, your benefit amount remains constant and won’t decrease over time, ensuring protection throughout your career and into retirement. Whole Life Insurance also accumulates cash value at a guaranteed rate of 3.75%, giving you the flexibility to borrow against it or use it to purchase a smaller, fully paid policy with no further premiums required.

 

Premium Information

Important Documents

Why You Should Buy Coverage Now?

  • Whole Life Insurance is more affordable when you purchase it at a younger age, and your premium stays the same as long as you continue to make payments.

  • Buying coverage through your workplace offers you more competitive rates.

  • The cost is easily managed through payroll deductions.

  • Whole Life Insurance provides an additional layer of valuable protection to complement any term life insurance you may already have.

Coverage Options

Employee: You can purchase $15,000, $30,000, $40,000 or $50,000 of coverage for yourself.

Spouse: Your spouse, aged 15 to 80, can be covered even if you don’t have a policy for yourself. If you leave your job, your spouse’s coverage can continue, with billing sent directly to your home. You have the option to choose coverage amounts of $10,000, $15,000, or $20,000 for your spouse.

Child(ren): Your children are eligible for individual coverage, even if you don’t have a policy for yourself. If you leave your employer, their coverage remains intact. You can choose a benefit amount of $10,000 or $15,000 for each child.

What's Included?

  • Living Benefit: If you are diagnosed with a terminal illness and have a limited life expectancy, you can access an early payout of your policy’s death benefit, up to a maximum of $150,000. This can help cover expenses while you’re still living. Please note that any early payout will reduce the amount paid to your beneficiaries upon your death.

 

  • Waiver of Premium: If you become disabled before age 65 and remain disabled for at least six months, your premiums will be waived until you recover and return to work.

 

  • Long-Term Care Rider: You may have the option to use your death benefit to help pay for long-term care, subject to the terms and conditions of the rider. For more details, please consult your plan administrator.

Evidence of Insurability

For Whole Life Insurance coverage, Evidence of Insurability (EOI) is required in certain situations. Employees will need to provide evidence if they are enrolling late or if they are selecting coverage over $50,000, regardless of when they elect coverage. For spouses, a single qualifying health question is always required to obtain coverage. However, no health questions are needed to secure coverage for children.

Non-Medical Enrollment and Questions:
(866) 933-2460

Medical Enrollment and Questions:
(800) 610-1863

General Questions: help@vcsbenefits.org

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