Group Universal Life

Schussel, Mark
July 1988
Risk Management (00355593);Jul88, Vol. 35 Issue 7, p12
Trade Publication
This article presents news briefs on employee insurance benefits in the U.S. as of July 1988. A group variable universal life insurance policy from Paragon Life Insurance Co. combines term life insurance with several investment options. Companies with more than 100 employees can offer the product to their employees through payroll deductions. The insured can spread the investment portion of the policy among five funds which are part of American Fund Group's Annuity Series and are managed by Capital Research and Management Co. A group universal life product offering flexible plan design and simplified administration is now available from Minnesota Mutual Life's subsidiary, Adjustable Life Co. The package includes a sponsored endorsement letter, newsletter articles and a payroll stuffers prior to enrollment seminars. The United States Life Insurance Co. has restored its small group major medical plans. Known as the Quality Series 1-9 it features lower rates and includes Cost-Cure, a containment program, as well as wraparound an other supplemental programs. Coinsurance, federal maternity, well-baby care, prescription drug card dental coverage, short-term and long-term disability benefits and family stop-loss provisions are available.


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