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Dependent Life Insurance

Dependent Life Insurance provides monetary benefits to the Employee (Plan Member) in the event of spouse or dependent child’s death.  Although the amount of coverage here is generally quite modest, the intended purpose of this coverage is to meet the funeral or burial expenses for that respective dependent.  Dependents are generally defined as an employee’s spouse who is not legally separated from the employee and an employee’s unmarried dependent children, who are older than 14 days of age and younger than 21 (or 25 if in a full time accredited post-secondary institution).

Dependent Life plans offer coverage in flat amounts only.  It is very common to find plans that will cover a spouse for $5,000 - $10,000 and any dependent children for $2,500 - $5,000.  Although it is great that plans are offering Dependent Life Coverage, we have found that these limits are insufficient in even subsidizing funeral costs.  To this end, Blackstone is now able to offer its clients:

  • Spousal Life Insurance:            Up to $25,000
  • Dependent Life Insurance:        Up to $12,500