Press Releases

Carmel, Ind. May 2, 2005 — Worksite agents have a new universal life insurance product to offer both small and large employer groups, thanks to Conseco Insurance Company’s Worksite UL. While few carriers offer universal life insurance products to smaller groups, Worksite UL requires a minimum of only five participants and can be marketed to larger group clients as well.

Currently available in 38 states, Worksite UL provides life insurance protection for employees and their family members. Premiums are paid through convenient payroll deduction, and the policy is portable if the employee retires or otherwise leaves the current employer. Coverage is available on a modified guaranteed or simplified issue underwriting basis (nontobacco and tobacco).

“Worksite UL from Conseco Insurance Company is a universal life product for both small and large employer groups,” said Brad Corbin, executive vice president of sales for the Conseco insurance companies. “Worksite UL allows employers to offer voluntary life insurance protection through a convenient worksite enrollment process. And agents enjoy competitive commissions and the opportunity to approach smaller groups with this new product.”

Worksite UL’s flexibility allows the employee to customize coverage through the following riders:

The Accidental Death Benefit rider may be added to any adult plan and provides a payment in addition to the coverage amount in the event of an accidental death prior to the insured’s 70 th birthday.

The Children’s Term Insurance provides coverage for the insured’s children.

The Automatic Additional Benefit Increase rider provides a hedge against inflation, allowing an employee’s or a spouse’s coverage and most riders (excluding Children’s Term Insurance) to increase automatically with no evidence of medical insurability.

The Accelerated Benefit Rider for Home-Health and Long-Term Care rider allows for the use of life insurance during the insured’s lifetime and provides a monthly benefit for long-term care services in a variety of settings.

The Accelerated Benefit for Terminal Illness rider provides an advance on the death benefit if the insured is diagnosed with a terminal illness and is expected to die within twelve months after the certification date. The accelerated benefit is paid to the person who owns the coverage and can be used for any purpose the owner wishes, including medical, assisted-living and final expenses.

When employers offer voluntary benefits from Conseco Insurance, they enjoy the ease of combined billing along with a dedicated worksite service team to provide administrative support during group set-up and throughout the group’s benefit year. In addition to Worksite UL, employers can choose to offer supplemental cancer, heart/stroke and accident insurance—all products that enhance the total benefit package without increasing an employer’s costs.

The Conseco insurance companies serve nearly 5 million customers across America. Conseco’s cancer, heart/stroke, accident and Medicare supplement policies protect people against major unplanned expenses; Conseco’s annuities and life insurance products help people plan for their financial futures.

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Group contract is subject to underwriting approval.
Product and riders are subject to state availability.