Basic Life Insurance
Basic Life Insurance/AD&D - Company Paid! Pacific Personnel Services provides associates with a Basic Life Insurance policy in the amount of $25,000, through Unum , if you enroll in a medical plan , at no cost to you! This policy includes the same amount of Accidental Death & Dismemberment (AD&D) coverage. AD&D insurance can pay a benefit if you survive an accident but have certain serious injuries. It can also pay an additional amount if you die from a covered accident. This policy has the following benefit: • A “Living” Benefit: If you are diagnosed with a terminal illness with less than 12 months to live, you can request 75% of your life insurance benefit while you are still living. This amount will be taken out of the death benefit and may be taxable. Select Your Beneficiary • You can change your beneficiary designation at any time. • You may designate a sole or multiple beneficiaries to receive payment in the amount you specify. • Minor children: If the named beneficiary is a minor, the benefit is put ‘On Hold’ for Age of Majority (age 18) or until Guardianship/Conservatorship Paperwork is received. Benefits may be paid if the benefit is under $10,000.
Benefits Guide 2024-25 15
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