Lincoln Launches Small Business Product Suite

December 21, 2009 (PLANSPONSOR.com) - The Insurance Solutions/Group Protection division of Lincoln National Corporation has announced the rollout of its Lincoln Small Business group benefits product suite.

The solution is currently aimed at businesses with two to nine employees. The product offers small business owners life insurance, Accidental Death &Dismemberment, Short-Term Disability, Long-Term Disability, and dental insurance.

According to the announcement, the offering includes:

  • Group Term Life Insurance and Accidental Death & Dismemberment (AD&D)
    • Flat amounts up to $50,000 or 1x annual salary up to $50,000
    • Dependent coverage amounts of $2,000 spouse/$1,000 child(ren)
    • 24-hour AD&D coverage
    • Life waiver of premium for total disability
    • TravelConnect travel benefits provided at no cost
    • BeneficiaryConnect free assistance to help beneficiaries cope during a difficult and emotional period
    • Accelerated death benefit
    • Air travel claims up $25,000
  • STD (Short-Term Disability)
    • 50% / 60% benefit to a maximum of $1,500 per week
    • Choice of benefit periods: 13 or 26 weeks
    • Elimination periods of 1/8, 8/8, or 15/15
  • LTD (Long-Term Disability)
    • 50% / 60% benefit to a maximum of $6,000
    • Additional 10% Progressive Income Benefit
    • $100 minimum
    • Benefit durations of two years, five years, or Social Security Normal Retirement Age (SSNRA)
    • Employee Assistance Program (EAP)
    • Family Care Rider
    • Elimination period of 90 or 180 days
  • Dental
    • Coverage for preventive, basic, and major services
    • 100/80/50 or 80/60/40 plan designs
    • Deductibles: $50 or $100
    • $1,000 or $1,500 annual maximums
    • PPO or indemnity plans
    • Periodontics and endodontics covered as part of major services
    • Employee support via access to the Lincoln DentalConnect web site

 

Lincoln said the product is not yet available in Colorado in Pennsylvania.

More information is at www.lfg.com.

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