Life Insurance Choosing to protect your family
If something unexpected happens, how can I be sure my family will be all right? No one wants to think about it. But an unexpected death can have devastating financial consequences for survivors — consequences that can linger long after the initial shock and grief. Adequate life insurance can help your family manage expenses and make a very difficult transition less painful. How do I know if I’m eligible to participate in this plan? You are eligible to participate if you are an active full-time employee as defined by your employer and meet any other policyholder defined eligibility requirements. How much coverage can I buy? You can purchase up to 5 times your basic annual pay, in units of $10,000, to a maximum of $100,000; $20,000 is the minimum you can purchase. You also can
purchase coverage for your spouse and children (see “Can I buy coverage for my family?”). You can effectively double your protection by purchasing an equal amount of Accidental Death and Dismemberment (AD&D) coverage. What is AD&D? AD&D pays an amount equal to your Life benefit if you die as a direct result of an accident. In addition, your AD&D coverage includes: • A Higher Education Benefit that pays an additional $3,000 per year for up to four consecutive years for eligible dependent students. (Applies to Employee AD&D Only.) • An Automobile Accident Benefit that pays an additional 20% of the AD&D benefit, to a maximum of $100,000 should you or your covered dependent die as a result of a car accident while wearing a seatbelt. • An Accidental Dismemberment benefit that pays 50% of the AD&D coverage for the loss of one hand, one foot or the sight of one eye; and 100% for the loss of two or more of the above.
Key Advantages of This Plan • This plan is offered through your employer, so premium rates may be more competitive than similar products you could buy as an individual. • Your premiums are paid through a convenient payroll deduction.
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