Dependent life insurance is available to the spouse and dependent children of an employee, Dependent Life plans provide coverage in flat amounts only. Coverage for the spouse is generally higher than that available for children. Coverage for children generally becomes effective either from birth or 14 days after birth and continues until the child is 21 years of age (25 years if in full-time attendance at school or university).
Employers may share in paying the premium, or opt to have employees pay the entire premium. The benefit is payable to the covered plan member upon the death of the dependent.
The most common amounts of Dependent Life coverage are $5,000 for a spouse and $2,500 per dependent child or $10,000 for a spouse and $5,000 per dependent child. However, coverage for higher amounts is often available.
We wish to thank you for the amazing service you gave us when obtaining liability coverage for our firm after our existing carrier decided not renew in December...