Reliance Standard offering two new group lines

Reliance Standard Life Insurance Company, which specializes in flexible employee benefits, has launched two new lines of group coverage: voluntary critical illness (VCI) and voluntary accident (VAI) insurance.

VCI provides a fixed, lump-sum payment upon diagnosis of a critical illness, such as cancer, heart attack or stroke. The payment is made directly to the insured and can be used for any purpose. Coverage options range from $5,000 to $50,000 each for employees and their spouses.

With VAI, the insured gets a range of fixed, lump-sum benefits for injuries resulting from an accident, such as fractures, burns and more serious ailments. Payment is made directly to the insured and can also be used for any purpose. All coverage is guaranteed issue and requires no medical underwriting.