Tax Advantage Accounts
Life Events FAQs
Defined Benefit Plans
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.
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.
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).
View the Basic Employee Term Life Insurance
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
View the Accidental Death & Dismemberment Insurance