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PERMANENT WHOLE LIFE INSURANCE

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PERMANENT WHOLE LIFE INSURANCE

Olympic Steel is pleased to offer voluntary Whole Life Insurance to our eligible employees (up to age 72). This coverage is designed to pay a death benefit to beneficiaries, but can also gain cash value that can be used while you are living. We also offer the option of purchasing this coverage for your spouse, children, and grandchildren.

The perks of the plan:

  • The policy accumulates cash value at a minimum guaranteed rate of 3.5%. Once your cash value builds to a certain amount, you can borrow from the cash value or use it to purchase a smaller “paid-up” policy with no additional premiums due.
  • You can get great rates and Guarantee Issue up to certain limits if you apply within your initial eligibility period on this policy when you purchase through Olympic Steel, and your premium can be paid through convenient payroll deductions.
  • You own the policy and can take it with you at the same rates, even if you leave Olympic Steel.

Rates are provided online during enrollment. For questions about a policy, updating beneficiaries, or other questions, please contact Boston Mutual at 1-800-669-2668 or go to www.bostonmutual.com.