Accidental Death & Dismemberment (AD&D)
Eligible employees are provided with Basic Life and AD&D insurance through Mutual of Omaha, at no cost to you.
Employee coverage can be chosen between two options:
- Flat rate: Flat $50,000 life benefit
OR
- Earnings-based: 2X annual compensation to a maximum of $750,000 (subject to IRS imputed income, which is taxable to the employee)
Group Life Insurance
Imputed Income Calculation
Life Summary
$50,000 Benefit
Life Certificate
$50,000 Benefit
Life Summary
2X Salary Benefit
Life Certificate
2X Salary Benefit
AD&D Summary
$50,000 Benefit
AD&D Certificate
$50,000 Benefit
AD&D Summary
2X Salary Benefit
AD&D Certificate
2X Salary Benefit
Dependent Life Insurance
- Spouse coverage is provided at no cost to employee at the lesser of $2,000 or 50% of employee amount
- Dependent children coverage is provided at no cost to employee with coverage levels based on age.
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Video: Life and AD&D Insurance
Common Life Insurance Terms:
Accidental Death Insurance (AD&D): Generally an add-on to a regular life insurance policy, it is only paid if the death of the insured occurs as the result of an accident.
Age Reductions: Most insurance policies reduce your life insurance benefit as you age.
Beneficiary: The person or party named by the owner of a life insurance policy to receive the policy benefit.
Contingent beneficiary: The party designated to receive proceeds of a life insurance policy following the insuredโs death if the primary beneficiary predeceased the insured.
Conversion: If you ever leave employment, you may be able to convert the group policy into an individually owned life insurance policy.
Coverage Amount: Value of life insurance
Portable: If you ever leave employment, you may be able to port the life insurance coverage to a lower cost plan.
Premiums: Amount paid to the insurance company to buy a policy and keep it in force.