NU Online News Service, Aug. 26, 4:23 p.m. – The GE Financial Employer Services Group, Enfield, Conn., is introducing the GE Voluntary Benefits Disability Insurance policy.
GE Financial will be selling the policy to workers at the worksite through payroll-deduction payment programs.
Optional benefits available with the policy include partial disability benefits, for disabled employees who return to work despite their disabilities, and a hospital confinement rider, which pays cash benefits to employees who are hospitalized.
The price of coverage will be the same for all active employees between the ages of 16 and 69, and GE Financial reports that it can offer the policy on a guaranteed-issue basis, meaning that workers at eligible employers can buy coverage without undergoing medical exams.
GE Financial, a unit of the General Electric Company, will be issuing the policy through two sister companies, Professional Insurance Company and PIC Life Insurance Company.