Life Insurance

Basic Term Life Insurance
Basic Term Life Insurance is provided at no cost to eligible employees through Reliance Standard. Your beneficiary will receive a payment of $50,000 if you pass away while covered by this plan. At age 65, benefits are reduced to $32,500 and $25,000 at age 70.

Accidental Death and Dismemberment (AD&D) Insurance
Accidental Death & Dismemberment coverage is provided at no cost to eligible employees through Reliance Standard. In the event of your accidental death $50,000 may be payable to your beneficiary. You may receive a percentage of the principal amount in the event of a qualifying accident that results in the loss of limbs or eyesight. At age 65, benefits are reduced to 65% and at age 70 they are further reduced to 50%.

Voluntary Term Life Insurance
You have the option to purchase additional life insurance coverage through Reliance Standard in increments of $10,000 up to a maximum of $500,000 (not to exceed five times your annual salary). If you enroll in the plan, you may also apply for additional life insurance coverage for your spouse or domestic partner. Your premiums will be paid through payroll deductions on an after-tax basis.

• The “guarantee issue” amount is $150,000 for new hires, rehires, and for newly benefit-eligible employees. The guarantee issue is the maximum dollar amount approved without standard medical underwriting. Amounts above the guarantee issue require medical underwriting. In addition, if you apply for coverage after your initial eligibility period, all amounts are subject to medical underwriting.
  
  
• Coverage for your spouse or domestic partner may be purchased in increments of $5,000, up to a maximum of $250,000 (not to exceed 50% of employee Voluntary Term Life Insurance coverage). The guarantee issue amount is $50,000.