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Summary

In this instructional video, we cover dental and life insurance benefits. We discuss how dental coverage differs from medical insurance, highlighting the annual and separate lifetime maximums for certain plans. Regarding life insurance, we explain its purpose and detail the automatic employer-paid coverage, which is one times your annual salary. We also mention the option to purchase additional voluntary life insurance for yourself, your spouse, or children. Beneficiaries are explained, including primary and contingent beneficiaries and how to designate percentages for each.

Transcript

Welcome back. Thanks for tuning in for more benefits training. Today, we'll focus on dental and life insurance. Let's get started.

First, I'd like to talk to you today about your dental coverage through Health Carousel.

Your dental coverage works differently than medical.

Your annual maximum is the most debt the insurance company will pay per year on your claims.

Once you reach your annual maximum, you're responsible for the full cost of your claims for the remainder of the year. If you choose the plan that offers Orthodontia, there is a separate lifetime maximum.

Alright. Now let's talk life insurance.

Life insurance is a financial protection plan that provides a cash benefit to a beneficiary upon the death of the insured.

As a Health Carousel employee, you have a life insurance policy, which is equal to the amount of one times your annual salary.

This policy is entirely employer paid.

You also have the opportunity to purchase voluntary life insurance for you, your spouse, and/or your children.

This would be in addition to your employer paid life insurance.

You must purchase voluntary life insurance for yourself if you'd like to purchase life insurance for your spouse or children.

Next, let's talk beneficiaries.

With life insurance, you'll have to consider who your beneficiaries will be.

A beneficiary is a person or the organization that would receive the death benefits.

For example, a primary beneficiary receives your life insurance benefits.

A contingent beneficiary would receive the benefits only if the primary beneficiary does not survive.

You can have as many beneficiaries as you'd like, but you would need to designate a percentage that each one would receive. A total percentage must equal a hundred percent of both your primary and your contingent beneficiaries.

And that's a wrap on dental and life insurance. Thanks for watching.