Fortis Launches Basic Insurance Package

April 16, 2003 ( - Fortis Benefits Insurance Company has unveiled a new package of basic workplace insurance policies.

According to a news release, the Fortis Simple Benefits Solutions includes basic life, accidental death and disability coverage. The company said rates are age-based in three categories: under age 40, 40 to 54, 55 and older.

The SBS package includes:

  • life insurance with a $25,000 benefit amount; an 80% Accelerated Death Benefit available for patients with terminal medical conditions; a two-year waiver for life insurance premiums if the insured is disabled
  • a $75,000 accidental death and dismemberment (AD&D) benefit with an additional higher education benefit; an AD&D rider providing additional benefits if death occurs in an auto accident while the insured is wearing a seat belt; and disability coverage with a 30-day qualifying period, two-year benefit duration and benefit amount of 60% of pre-disability pay, up to a maximum of $1,000 a month. Benefits reduce automatically at age 70 and again at age 75.