Benefits Basics
Cincinnati Life is the only carrier
Payroll
Term Life 10, 20, 20 ROP (return of premium)
Whole Life to 100, to 65
Link for AZ, NV, OR application
PAYROLL IS BI-WEEKLY
First Deduction date: October 1, 2021
Contract date: November 1, 2021
Coverage starts on the day they sign the application
Highlights
CinFin offers three comprehensive options:
"IF”: Term Life insurance provides guaranteed protection for a specified time period and pays a benefit if you die in this period of time.
“WHEN” Whole life insurance is permanent life insurance and costs more than term because the policy is designed to cover you for your whole life.
”THEN”ー Return on Premium life insurance with a money-back guarantee after the 20 years.
Employee Guarantee – any combination of WL/Term/Term ROP (up to age 50 Only)
Ages 18 – 50 = $100,000 / Ages 51 – 60 = $75,000/ Ages 61 – 70 = $25,000
Spouse Guarantee Must work outside the home 20 hours or more per week
Ages 18 – 60 = $15,000 WL Products Only / Ages 18 – 60 = $25,000 WL/Term/Term ROP with stipulation that employee purchased on self. Non-Working Spouse can purchase
Ages 61 – 70 = Simplified Issue
Dependent Children Guarantee
Ages 15 days – 17 years = $10,000 WL Products Only
Ages 18-25 = $10,000 WL Products or $25,000 of Term/Term ROP.**
**Choose one of these options for Guaranteed Issue
Must be a Full-time Student, unmarried, and not in the military.
Grandchildren
Ages 15 days -18 years = Simplified Issue Whole Life Products Only