Employee Basic Life

• Employer-sponsored basic life insurance
• Employer selects benefit level of either 1x annual salary or 2x annual salary
• Minimum benefit = $5,000
• Maximum benefit = $600,000
  • Guarantee issue amount: $250,000
  • This maximum guarantee issue amount is generally higher than most employers can obtain on a stand-alone plan
• Competitive premiums
• AD&D coverage included for active employees equal to basic life amount
• Two (2) levels available for retiree life insurance ($5,000 or $10,000)

Dependent Basic Life

• Employer-sponsored dependent life insurance
• Spouse benefit: $10,000
• Child(ren) benefit: $ 1,000 for each dependent child age 6 months ($250 benefit from 14 days to 6 months)
• To age 19, or to age 25 if a full-time student

In addition to the employer-sponsored basic life insurance, employees can be given the opportunity to purchase additional life insurance for themselves and/or eligible dependents.

Employee Supplemental Life Insurance

• Policy amounts available = 1x, 2x, or 3x base salary (rounded up to next highest $1,000)
• Employee maximum amount = $600,000
• Guarantee issue amounts available upon initial hire only = $250,000
• Employees can increase supplemental life amounts during Open Enrollment periods but may be subject to Evidence of Insurability
• Combined basic and supplemental life insurance amounts cannot exceed an overall maximum of $1,200,000

Dependent Supplemental Life Insurance

• Spouse policy amounts
  • Policy amounts starting at $5,000, available in $5,000 increments
  • 50% of employee supplemental life benefit, up to $300,000
  • Guarantee issue amount available upon initial hire only = $30,000

• Benefits are available for all eligible children
  • For ages 14 days to 6 months = $250
  • Age 6 months to 19 years (25 if full time students) = $10,000
  • Elected amount is effective for each individual child(ren)