Ensure your employees are protected.
Life and accidental death and dismemberment insurance for your employees’ needs.
Some employees may want coverage that goes beyond life insurance or workers’ compensation. They want to be covered in the event of an accident, on or off the job. We can help you provide that added financial protection.
Life and accidental death and dismemberment insurance in South Carolina.
Life and accidental death and dismemberment insurance can be a valuable addition to an employee benefits program.
It gives employees access to financial security for their families while helping employers offer a more complete and competitive benefits package.
At C.T. Lowndes & Co., we work with South Carolina businesses to review group life insurance and AD&D options that fit their workforce and benefits strategy.
Ready to explore your options? Contact C.T. Lowndes & Co. today to start the conversation.
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Group Health Insurance
Risk Factor
One of the main factors in attracting and retaining good employees is the benefit program offered by employers. This typically starts with your group health insurance plan.
Solution
Regardless of the company’s financials, there are ways to make health insurance available to your employees and their dependents. Offering health insurance doesn’t have to break the bank. There are many solutions available to small, mid-size, and large employers.
Group Life Insurance
Risk Factor
When employees are worried about their financial situation, they may not be as productive. Many individuals today do not have life insurance or adequate savings to cover final expenses, which places additional stress on employees and/or their families when the need arises.
Solution
A group life insurance plan can put your employees’ minds at ease, knowing their family will have resources available when they need them. Policies can also include a dependent benefit to help the employee pay for expenses if their dependent passes. Another solution is to offer a voluntary life benefit whereby the employee pays a lower premium through payroll deduction than they would if they found coverage on their own. Group life insurance is also tax deductible.
Disability
Risk Factor
Many employers are faced with offering lower wages than their competitors and find it difficult to find and retain qualified workers.
Solution
Offering a short-term and/or a long-term disability program can provide prospective and current workers with another form of financial stability. An employee may be offered a higher wage elsewhere, but are they offered protection if that paycheck stops due to pregnancy, illness, or other disability? How will they pay the mortgage or other bills? Employers offering a disability plan can provide peace of mind to their employees and gain an advantage over those that don’t.
Group Dental Coverage
Risk Factor
Failure to have regular dental checkups can lead to more serious problems than a toothache.
Solution
Offering dental coverage to your employees can help encourage them to see a dentist on a regular basis. Gum disease has been linked to heart disease as well as diabetes. Catching these issues early not only helps your employees’ health, it may help reduce your long-term health insurance costs before a big claim hits!
Vision Care Coverage
Risk Factor
Similar to dental coverage, if your employees are not getting regular eye exams, they may have underlying medical conditions such as heart disease or diabetes that can surface later at a greater expense to your medical plan.
Solution
Offering vision care coverage is a very affordable component to offering health benefits. It’s an inexpensive portion of the benefit package with a high value of return and can help offset the impact of increased medical costs, becoming a cost-effective, early intervention tool.
Voluntary Coverage
Risk Factor
Not being able to meet an employee’s individual needs can pose a threat to worker retention and attracting new talent, both of which can be costly to your bottom line.
Solution
Offering voluntary coverage lets your employees choose benefits that are important to them. It’s a cost-effective way to provide a variety of benefits at little or no impact to your monthly premiums. Examples of voluntary coverage include:
- Critical illness, hospital indemnity, and cancer coverage.
- Life, dependent life, short-term, and long-term disability coverage.
- Dental care.
- Vision care.
Compliance Audits
Risk Factor
Compliance audits are increasing and Department of Labor fines can be costly. Do you have all of the documents and paperwork at your fingertips should you receive an audit letter?
Solution
A good benefits broker will educate you on the compliance pieces so that you are prepared for that dreaded day. A wrap document covers most of what is required and the remaining forms should be readily accessible with proof of distribution to employees and/or eligible participants.
What is life and accidental death and dismemberment insurance?
Life and accidental death and dismemberment insurance is a group benefit that combines life insurance coverage with AD&D insurance in a single plan.
As part of an employer-sponsored program:
- Life insurance provides a death benefit to an employee’s beneficiaries
- AD&D insurance provides additional benefits if a covered accident results in accidental death or serious injury
Many plans include a base level of employer-paid coverage, with options for employees to elect additional coverage. Plan designs can vary by insurance company, including benefit amounts, eligibility, and optional features.
This type of coverage is commonly included in employee benefits packages to provide an added layer of financial support for employees and their families.
Who benefits from this coverage?
Life and accidental death and dismemberment insurance is a widely used employee benefit that supports a range of workforce needs.
Employers often include this coverage to:
- Provide financial protection and security for employees’ families
- Offer additional benefits alongside core life insurance
- Enhance the overall benefits package
- Support employees with dependents or financial obligations
- Offer voluntary options for employees who want additional coverage
Because this coverage is offered through the workplace, employees may have access to group pricing, convenient enrollment, and simplified underwriting compared to individual policies.
This is very enticing for a potential candidate. Life and accidental death and dismemberment insurance attracts top job candidates and your employees feel more secure and less stressed about their families’ financial stability.
What does it cover?
Coverage varies by plan and insurer, but most group life and AD&D insurance programs include two primary components:
1. Life Insurance Coverage
Life insurance provides a benefit to an employee’s designated beneficiaries if the employee passes away. This benefit can help address:
- Funeral and final expenses
- Outstanding debts
- Ongoing financial needs for dependents
Coverage amounts are typically based on a multiple of salary or a selected benefit level, depending on the plan design.
2. Accidental Death and Dismemberment (AD&D) Coverage
AD&D insurance provides additional benefits when a covered accident results in serious injury or loss.
Depending on the policy, AD&D coverage may:
- Provide an additional benefit for accidental death
- Pay a portion of the benefit for specific injuries, such as loss of a limb, sight, hearing, or speech
- Include features such as additional payouts under certain conditions
- Offer scheduled benefits based on the type of injury
Some plans may also include optional features such as dependent coverage or additional voluntary benefits.
As with all policies, benefits are subject to plan terms, conditions, and exclusions outlined in the policy documents.
Why employers offer life and AD&D insurance.
Life and AD&D insurance is often included as a foundational benefit because it is easy to implement and widely valued by employees.
You may choose to offer this coverage to:
- Provide a base level of financial protection
- Support employees and their families
- Complement other benefits such as health, disability, and voluntary life insurance
- Offer additional coverage options without adding significant administrative complexity
Plans can be structured as employer-paid, voluntary, or a combination of both.
Why South Carolina employers work with C.T. Lowndes & Co.
C.T. Lowndes & Co. has worked with South Carolina businesses for more than 175 years to build employee benefits programs that support their workforce.
Our team helps employers:
- Review group life and AD&D insurance options
- Compare plans from multiple carriers
- Structure benefits that align with their organization
- Provide clear information during enrollment
We focus on helping employers understand their options so they can make informed decisions about their benefits programs.
Get a life and accidental death and dismemberment insurance quote.
If you are reviewing your employee benefits program or considering adding life and AD&D insurance, C.T. Lowndes & Co. can help you explore available options.
Contact C.T. Lowndes & Co. today to request a quote and find the right life and accidental death dismemberment insurance plan for your needs.
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