Basic Employee Term Life
Your employer automatically enrolls you into a Basic Employee Term Life and Accidental Death and Dismemberment insurance policy equal to one times your total compensation, up to plan maximum of $1.5 million.
This policy is paid at no cost to you!
Your basic life insurance coverage is a term life policy. AD&D coverage pays benefits to you or your beneficiary(ies) if you die or are injured as a result of an accident. Your are automatically enrolled in Basic Employee Term Life upon hire.
Be sure to visit
www.lifebenefits.com to elect your beneficiaries.
Is Employer-Provided Term Life Insurance Taxable?
Under current tax law, insurance provided by your employer is tax-free up to $50,000 per year. The IRS requires you to pay taxes on the value of any employer-provided coverage over $50,000, called imputed income. This imputed income is included as taxable wages each pay period (and will be included as earnings for tax-purposes).
Looking for More Information?
View the Basic Employee Term Life Insurance
Plan Description.
Accidental Death & Dismemberment (AD&D) Insurance
Your employer automatically enrolls you into a Basic Employee Term Life and Accidental Death and Dismemberment insurance policy equal to one times your total compensation, up to plan maximum of $1.5 million.
This policy is paid at no cost to you!
AD&D coverage pays benefits to you or your beneficiary(ies) if you die or are injured as a result of an accident. You are automatically enrolled in AD&D insurance coverage upon hire.
View Benefit Summary
Looking for More Information?
View the Accidental Death & Dismemberment Insurance
Plan Description.
