- What is it? Life Insurance is an insurance that pays out a sum of money on the death of the insured.
- What do I have? $15,000 in Basic Life insurance is provided by the State to benefits eligible employees.
ACCIDENTAL DEATH & DISMEMBERMENT (AD&D)
- What is it? The Accidental Death and Dismemberment (AD&D) is insurance that pays an additional benefit if you are seriously injured or die due to a covered accident.
- What do I have? $15,000 of AD&D insurance is provided by the State to benefit eligible employees.
SUPPLEMENTAL LIFE and AD&D INSURANCE
- The Supplemental Life and AD&D is additional insurance that benefits eligible employees are allowed to purchase in case of death or dismemberment.
- This is a voluntary benefit. You must select it at the time of initial enrollment or during Open Enrollment.
- New Hires Note: At the time of new hire only, an employee can purchase coverage in multiples of $5,000, not to exceed the lesser of three times your annual earnings, to a maximum of $500,000.
- During Open Enrollment an employee can increase the amount of Supplemental Life by $20,000 but up to the three (3) times the employee’s salary limit.
DEPENDENT LIFE INSURANCE
- The Dependent Life Insurance is life insurance coverage on your dependents.
- It is a voluntary benefit - you must select it at the time of new hire enrollment or during Open Enrollment.
- Available amounts: $2,000, $4,000, $6,000, $10,000, $12,000, $15,000 or $50,000.
- For dependent coverage up to $15,000, you do not have to choose supplemental coverage for yourself.
- For dependent coverage of $50,000, you must have a combined basic and supplemental coverage of at least $50,000.
HOW MUCH LIFE INSURANCE DO YOU NEED?
See pg 12 of the Active Enrollment Guide.
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