New from Provident: PS Enhancer, Affordable Voluntary Disability Insurance with Flexible Features.CHATTANOOGA Chattanooga (chăt'ən  `gə), city (1990 pop. 152,466), seat of Hamilton co., E Tenn., on both sides of the Tennessee River near the Georgia line; inc. 1839. , Tenn.--(BUSINESS WIRE)--Oct. 9, 1996-- Provident prov·i·dent adj. 1. Providing for future needs or events. 2. Frugal; economical. [Middle English, from Latin pr introduces new voluntary disability income protection product Provident Life and Accident Insurance Company has introduced PS Enhancer -- the newest offering in Provident's line of voluntary employee coverages. PS Enhancer is a flexible disability income insurance product designed to accommodate the varying needs of employers and employees in the contemporary workplace. As an alternative to employer-funded coverage, PS Enhancer enables employers to offer comprehensive workplace disability coverage at no direct cost to the company. Because the coverage is designed to complement an existing benefit plan or work as stand-alone (jargon) stand-alone - Capable of operating without other programs, libraries, computers, hardware, networks, etc. Exactly what is absent is presumed to be obvious from context. "We only run Windows on stand-alone PCs because it's too dangerous to run it on networked ones." coverage, employers can tailor A tailor is a person whose occupation is to sew menswear style jackets and the skirts or trousers that go with them. Although the term dates to the thirteenth century, tailor the plan to suit their specific workplace needs. The flexible plan design also offers the employer's choice of non-occupational or 24-hour coverage and various combinations of elimination and benefit periods. PS Enhancer also provides options for employees, providing an opportunity to establish coverage tailored to their needs. If an employee already has a disability income replacement policy, a Tiered Benefits feature works along with the existing coverage. If an employee is disabled and receiving PS Enhancer benefits, the policy allows for premiums to be waived. Employees also have the choice of adding accidental accidental /ac·ci·den·tal/ (ak?si-den´t'l) 1. occurring by chance, unexpectedly, or unintentionally. 2. nonessential; not innate or intrinsic. death and dismemberment dismemberment /dis·mem·ber·ment/ (dis-mem´ber-ment) amputation of a limb or a portion of it. dismemberment amputation of a limb or a portion of it. coverage for a minimal additional premium. Upon leaving the company, employees may apply for individual coverage through a Conversion Privilege conversion privilege See exchange privilege. . "PS Enhancer fills a real need in the marketplace," says K. Bradford Bradford, city, England Bradford, city (1991 pop. 293,336) and metropolitan district, N central England, on a small tributary of the Aire River. It is a center of the worsted industry, which dates from the Middle Ages. Wier, Provident Voluntary Benefits vice president for sales and marketing. "Today's middle-income and blue-collar employees rarely have the savings needed to cover expenses if a disability prevents them from earning a paycheck. Employees need and want easy access to voluntary disability insurance." Designed for employees with annual incomes of $12,000 to $60,000, income replacement benefits under the plan provide 50 percent of gross income, or 60 percent of gross income less any other benefits up to a monthly maximum benefit of $3,000. "PS Enhancer is part of Provident's continuing effort to build its business around customer needs at all levels of income," said Wier. "We are committed to the workplace market and confident that products like PS Enhancer will meet the challenge of the changing employee benefits market." Provident Life and Accident Insurance Company, founded in 1887, is the primary subsidiary of Provident Companies, Inc., a holding company established in 1995. Provident Companies, Inc., which reported a year-end 1995 net worth of $1.7 billion and $96 million of life insurance in force, is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol PVT. Provident Life and Accident Insurance Company specializes in life, disability and related insurance products for individual and corporate customers. CONTACT: Provident Life and Accident Insurance Company, Chattanooga Lee Heidel, 423/755-1107 |
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