|
Life Insurance Plans |
|
Employees are eligible to apply for life insurance coverages through the HEWT.
Basic Life/Accidental Death and Dismemberment Life Insurance provides employees under age 65 with basic life insurance equal to two times base annual salary plus an additional AD&D coverage of one times base annual salary. Reduced coverage is available for employees age 65 and over. The current employee cost for this coverage is two-tenths of one percent of base salary. Accelerated Life Insurance is also available to employees in the event of terminal illness. Dependent Life Insurance offers coverage for eligible dependents. Employee costs are based on the coverage elected and change periodically based on experience. Personal Accident Insurance offers accidental death coverage for employees up to a maximum of ten times their annual salary (maximum $750,000), and their eligible dependents (spouse at 50% or 60% and children at 15% or 20% of employee coverage). The current cost is $.21 per month per $10,000 in coverage for employee coverage and $.35 per month for family coverage. For detailed plan information refer to the documents below:
|
