FAQs - Life Insurance

What is Life Insurance?
Life insurance offers employees peace of mind by offering their families dependable security. Benefits are paid to a designated beneficiary upon death of a covered employee. A benefit for Accidental Death and Dismemberment (AD&D) increases the employee's voluntary life insurance benefit when the loss is the result of an accident.

Who pays for Life Insurance?
The life insurance offered by MDSIS-Spring is a voluntary product, which means employees have the option to enroll. The voluntary nature of the product allows the insurance premium to be paid for in a variety of ways, unlike health insurance, which requires employers to pay a minimum of the premium. Typically, premiums are 100% employee funded, however, employers have the option to fully fund the premiums. Additionally, there can be a cost-sharing arrangement between the employer and the employee. Any employee who elects a short-term or long-term disability policy automatically receives a life insurance policy.

Are there any pre-existing conditions?
The pre-existing condition clause is waived for groups with two or more enrolled employees. One-person groups who elect to apply for life insurance will have a pre-existing condition clause incorporated into their policy.

Can I continue this policy after I leave my job or if I retire?
Unlike other voluntary products, the life insurance offered by MDSIS-Services is portable. Upon termination of employment or retirement, former employees are able to continue their insurance without evidence of insurability.

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