Aetna Expands Its Group Life Product Offering to Provide Advantages to Members During Their Lives; Enhancements include Financial and Legal Counseling.HARTFORD, Conn. -- Aetna (NYSE NYSE See: New York Stock Exchange :AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) announced today enhancements to its group term life plans and the services packaged with them, enabling employees of group policy holders to reap benefits while they're still living. The insurer is piloting these enhanced life insurance benefits and value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services with participating accounts in 2006. A national rollout is planned for the start of 2007. Aetna's offering will provide access to new benefits and services during policy holders' lives to help promote and maintain healthy, fulfilling lifestyles while offering critical care and support resources for often overlooked health care needs during the end of their lives. These benefits will also provide access to financial and legal tools members need at different stages. Aetna has grouped these offerings into four categories: --Financial - access to financial counseling and advice, as well as enhanced accessibility to benefit payments under the accelerated death benefit feature during an end of life stage. --Legal - access to an introduction of free online basic will preparation services, living wills, healthcare directives, and an identity theft action kit as well as in-office attorney estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the services for members in an end of life stage. --Physical - discounts for fitness centers, vision and hearing, and medical case management and medical care advocacy services through a dedicated care support team. --Emotional - end of life information and bereavement Bereavement Definition Bereavement refers to the period of mourning and grief following the death of a beloved person or animal. The English word bereavement counseling for caregivers and immediate family members. "Our group life insurance benefits have been enhanced to focus beyond solely a financial payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. ," said Suzan Sweeney, head of life products and services for Aetna. "With access to education, advice, financial and legal counseling, members now have a wide range of services that they can benefit from at different points in their lives." Aetna's new model focuses on benefits members can take advantage of while they're still active, benefits for the member and caregivers during the end of life period and benefits for beneficiaries. "In addition to providing greater value to members throughout their lives, we will continue to focus on enhancing the value of our life insurance offering by providing additional benefits to caregivers and beneficiaries," said Sweeney. "With these enhancements, Aetna is offering a fresh perspective on the way policy holders and employees will view their life insurance coverage." About Aetna Group Insurance Aetna Group Insurance is a leading provider of group life, disability, leave management services and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. benefits for over 13 million group insurance members. Aetna Group Insurance provides benefits through employers and associations nationwide, with products and services targeted specifically to small, midsized and large multisite national plan sponsors. With strength in both health benefits and group insurance coverage, Aetna is uniquely qualified to help employers address issues of employee productivity, chronic illness, aging, and financial security. All group insurance products are underwritten or administered by Aetna Life Insurance Company. http://www.aetna.com/groupinsurance/producers.htm About Aetna Aetna is one of the nation's leading diversified diversified (di·verˑ·s health care benefits companies, serving approximately 28.3 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or , group life, long-term care and disability plans, and medical management capabilities. Our customers include employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. , individuals, college students, part-time and hourly workers, health plans and government-sponsored plans. www.aetna.com |
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