Basic Life and AD&D
Voluntary Life and AD&D
Life and AD&D coverage helps protect your loved ones in the event of your death or serious injury. Even if you’re single, your beneficiary can use your Life insurance benefits to pay off your debts, such as credit cards, mortgages, and other final expenses.
- Basic Life insurance – You receive Basic Life insurance coverage at no cost to you, and you do not need to enroll in any other health and protection program. Basic Life insures you for 3 times your basic annual earnings, up to a maximum of $600,000.
- Basic AD&D is automatically included equal to your Basic Life coverage and provides you specified benefits for a covered accidental bodily injury that directly causes dismemberment (i.e., the loss of a hand, foot or eye). If death occurs from an accident, 100% of the AD&D benefit would be payable to your beneficiary(ies).
Voluntary Life and AD&D
In addition to Basic Life and AD&D, eligible employees may purchase additional Voluntary Life and AD&D insurance at favorable group rates. Participants pay 100% of the premium. Note: It is important to provide beneficiary information during the enrollment process and keep this information up to date. If you select a coverage amount above the “guarantee coverage” or enroll after 30 days after you become eligible, you’ll need to submit an Evidence of Insurability form with additional information about your health in order for the insurance company to approve your coverage.
- For you: $10,000 increments up the lesser of 5x annual earnings or $500,000. Guarantee Issue if newly eligible: $100,000
- For your spouse: Any multiple of $5,000 up to $500,000 (not to exceed 100% of employee voluntary life amount). Guaranteed issue of $20,000.
- For your children: $2,000 increments up to a maximum of $10,000 or $500 for children under 6 months old. Guarantee Issue on all amount if newly eligible.