Term life insurance is provided at no cost to full time benefits eligible employees the first of the month following your new hire waiting period. Employees have the option of purchasing additional insurance coverage. The following types of life insurance are available:
Basic Life: basic group term life that pays a $50,000 benefit in the event of an employee's death due to illness or injury. This is provided at no cost to the employee.
Accidental Death & Dismemberment (AD&D): AD&D benefit is also available and pays a $50,000 benefit in the event of an employee's death resulting from an accident. The amount payable is a percentage of the $50,000 AD&D benefit, determined by the loss. This is provided at no cost to the employee.
Supplemental Life: supplemental life is additional coverage an employee may purchase on the lives of their spouse, eligible dependent children and themselves. Coverage for the employee and spouse is through payroll deductions and purchased in $10,000 increments. The employee's eligible dependent children may have $5,000 or $10,000 in benefit coverage.
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