Basic Employee Term Life and AD&D

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.


 

 More Information