Life and AD&D Benefits
Basic Group Life and Accidental Death and Dismemberment (AD&D) coverage is a 100% employer paid benefit, provided at no cost to you. The basic life benefit will be paid to your beneficiaries in the event of your death. The AD&D benefit will be paid in the event of an injury resulting from a covered accident.
Benefit |
|---|
1x Annual Salary |
When your needs call for more than Basic Life and AD&D coverage, additional Voluntary Life and AD&D coverage is available for purchase for you, your spouse and your dependent children. Coverage purchased through this plan is offered at a group discounted rate with guaranteed issue amounts. Employees must elect coverage in order to purchase spouse or child coverage
Benefits |
|
|---|---|
Benefit Amount |
In $10,000 increments to maximum of 5x annual salary, up to $500,000 |
Guaranteed Issue |
$160,000 Employee / $50,000 Spouse / $10,000 Child(ren) |
Benefit Reduction |
Reduce by 33% at age 70 Reduce by 33% at age 75+ Terminates upon retirement |
Spouse |
In $5,000 increments to the lesser of 50% of the employee life amount or $250,000 |
Child |
Child under 15 days old: $0 |