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Paycheck Provider

PayCheck Provider is a voluntary group life insurance plan that provides a guaranteed monthly income to employee’s beneficiaries following employee’s death. It can help provide the family peace of mind during challenging times. All coverage is voluntary and guaranteed issue during initial open enrollment.

PayCheck Provider benefits are paid out in 10 monthly benefit options ($500, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500, $4,000, $4,500, or $5,000) for equal monthly installments of 12, 24, 36, 48, or 60 months. The maximum individual face amount is three (3) times salary, not to exceed $240,000.

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HIGHLIGHTS:

  • All coverage is guaranteed issue
  • Waiver of premium benefit included
  • Available on voluntary basis
  • Coverage is available for emplyee only; no dependent coverage
  • Minimum 25% participation and 10 employee participants are required to form a group

© 2017 Pan-American Life Insurance Group. All Rights Reserved.

© 2017 Pan-American Life Insurance Group. All Rights Reserved.