The Employee Benefits Group of the U.S. business group of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF) today announced the release of two group voluntary accident insurance plans, allowing employers to choose the benefit schedules that meet the demographic and budgetary needs of their employees. Both plans also offer an Optional Accident Disability Benefit for employee and spouse.
“Sun Life is thrilled to offer employers such a versatile suite of voluntary accident benefits,” said Leston Welsh, Vice President of Product Development for Sun Life’s Voluntary and Multiline divisions. “This accidental coverage can help employers give workers another tool to complement high-deductible health plans. We believe this offering provides a spectrum of coverage options geared to different needs and life stages.”
Sun Life offers two accident insurance plans.
The Essential plan has a straightforward plan design with a variety of choices. Employees at all levels of an organization can find a design that suits their needs. Highlights:
- Streamlined benefit schedule
- Benefits payable multiple times, up to a Maximum Benefit Amount per covered accident
- No annual or lifetime maximums
- Premiums starting at approximately $5 a month
- Equal benefit amounts for employees, spouses, and dependent children
- Low/mid/high benefit schedules, with the option to customize
- Robust list of covered benefits
- Related care ranging from ER/urgent care visits and X-rays to surgical procedures and physical therapy
- Coverage for accidental death and dismemberment up to $250,000