Life Insurance

Basic life insurance coverage valued at $25,000 is provided to all benefits eligible employees at no cost.  Additional opportunities for employees to elect life insurance are as follows:

  • Supplemental life insurance – Employees may elect additional life insurance coverage from one to eight times base salary, up to a maximum of $2.5 million. The lesser of three times an employee’s annual salary or $500,000 is guaranteed without providing any Evidence of Insurability (EOI) and is automatically approved.  Electing coverage in addition to the guaranteed amount would require the EOI process.
  • Spouse life insurance-Spouse coverage options are available in amounts from $10,000 to $500,000. Newly eligible employees may elect $50,000 with no EOI.  Exiting employees electing coverage or new employees electing coverage over $50,000 will require the EOI process.
  • Child life insurance- Child(ren) coverage options are available in the amounts of $5,000, $10,000, or $15,000. No EOI is required.
  • Accidental Death and Dismemberment (AD&D)- AD&D insurance in amounts of $10,000 to $500,000 can be elected to cover employee only or employee plus family.