Voluntary Life and AD&D
Employees who would like to purchase Supplemental Life Insurance have the opportunity to do so at low group rates with Principal. Additional Accidental Death & Dismemberment coverage is also included.
Benefit Amounts
- Employee: $10,000 up to $300,000
- Spouse: $5,000 up to $100,000
- Child(ren): $10,000
Guarantee Issue
(No Health Questions Required During Initial Eligibility Period)
- Employee: $100,000
- Spouse: $25,000
- Child(ren): $10,000
- Open Enrollment elections & change requests must be accompanied by Evidence of Insurability (EOI) -
- Assign or change a beneficiary at anytime. When no beneficiary is assigned, the benefit will automatically go into your estate. You are automatically considered the beneficiary for your qualified dependents.
- Accidental Death or Dismemberment benefits: An additional amount equal to the death benefit is provided to your beneficiary in the event of an accidental death.
- Accelerated Death Benefit: If you become terminally ill, you may be able to receive a portion of your life coverage benefit as a lump sum.
- Individual Purchase Rights: If you terminate employment, you may be able to convert benefits to an individual policy. The amount you can purchase varies depending on the termination situation.
