A Beam member, Jamie, is diagnosed with a terminal illness. They are covered by an employer-paid life plan of $100,000, meaning that their family will receive a lump sum payout in the event of Jamie’s passing.

Because Jamie and their family are also covered by the accelerated death benefit, and Jamie’s diagnosis is terminal, they can receive a portion of the life benefit now, while Jamie is receiving care, to help lighten the burden of the many costs associated with illness, such as travel, child care, and medication costs not covered by health insurance.

Jamie’s life coverage will help their family focus on what matters now, what matters in the event of Jamie’s death, and what matters for their future.

Chris is a young, unmarried professional without a lot of debt. His employer offers $50,000 life insurance as part of their benefits package with no cost to Chris. He assesses that if something were to happen that resulted in death, $50,000 would be enough to cover arrangements and any other debts that need to be paid off. He opts to stick with the benefit level that is provided by his employer.

Alex is the main income earner for their partner and two kids. Since they just started a new role, they’re in the process of selecting benefits. Alex notices that their employer covers $50,000 of life insurance as part of their benefits package, which would only cover part of Alex’s salary and wouldn’t begin to cover debt and expenses for Alex’s family in the event of their death.

Alex asks about additional coverage and finds out that the company also provides access to Beam’s elite voluntary life plan, which allows members to add up to $300,000 of additional coverage. Their company does not contribute to this voluntary life plan, though, so Alex would have a small cost to pay for additional coverage. Alex opts in to get an additional $200,000 through their company’s voluntary life plan. Of this voluntary additional coverage, $100,000 is guaranteed issue, meaning that Alex qualifies for this amount automatically. To qualify for the additional $100,000 of coverage, however, Alex must complete Beam’s digital Evidence of Insurability (EOI).

Alex completes the digital EOI process and is notified instantly that they are approved for the additional $100,000. Now Alex has a total of $250,000 life insurance to leave for their family if something were to happen.

Taylor has been a hard-working professional all her life and is ready for retirement soon. She and her partner are empty nesters and have worked hard to pay off debts and save up so they can RV around the country when they retire. While Taylor’s company does not offer an employer-paid life benefit, they do offer access to a voluntary life benefit—Beam’s premium voluntary life plan—which provides coverage up to $200,000. Just to be safe, Taylor opts in for $50,000 of coverage, which comes guaranteed with this plan (therefore, Taylor does not have to go through the EOI process to get coverage). Taylor pays a small fee each month for peace of mind.