AspenHR offers Voluntary and Basic Life Accidental Death and Dismemberment (AD&D). For the Basic group Life there are 4 options that eligible groups can choose from. Refer to the plan summaries to the right of this page for full details on those benefit options.
Please note; The value of the life insurance amount over $50,000 is considered “imputed income” and will be added to employees taxable earnings. Life and AD&D benefits are not taxable to the beneficiary. Please reach out to ASPENHR if you have further questions
What is Group Basic Life Insurance?
Group term life benefit provides your employees with the foundation of financial protection for their family if something should every happen. It doesn’t earn interest and has no cash value but can help protect the financial future of someone’s loved ones.
What is Voluntary Life Insurance?
Additional Life and AD&D Insurance provides an extra layer of protection if your employee dies or become dismembered in an accident. Your employees can also cover eligible spouse and child(ren).
- $10K Benefit Summary
- $25k Benefit Summary
- $25K Certificate of Coverage
- $50k Benefit Summary
- $50K Certificate of Coverage
- $250k Benefit Summary
- $250K Certificate of Coverage
- $500k Benefit Summary
- $500K Certificate of Coverage
- $1,000,000 Benefit Summary
Changes from 2021-2022:
- Life plan (2x base salary) was capped at $500,000, the cap is now $1,000,000 and GI is $500K
- Additional Employer Paid $10K Flat life benefit