To qualify for the life insurance benefit, you must be an Active Plan participant with earned eligibility or have senior performers coverage at the time of your death. The life insurance benefit is not available if you are covered under COBRA, nor is it available to dependents.
If a participant with earned eligibility dies during the period between the base earnings period and the benefit period, the life insurance benefit will be payable (but not accidental death and dismemberment benefits).
Life insurance benefit
The life insurance benefit amount depends on the type of coverage you have:
- Plan I earned eligibility – $10,000
- Senior performers – $ 5,000
To qualify for AD&D benefits, you must be an Active Plan participant with earned eligibility at the time of your loss. Your AD&D coverage ends when you lose earned eligibility. AD&D benefits are not available if you have COBRA or senior performers coverage, nor are these benefits available to dependents.
|Accident resulting in:||The benefit paid is:|
|Loss of life||$10,000|
|Loss of one arm at or above elbow||$7,500|
|Loss of one leg at or above knee||$7,500|
|Loss of one hand||$5,000|
|Loss of one foot||$5,000|
|Loss of thumb and index finger on same hand||$2,500|
|Loss of sight of one eye||$5,000|
|Loss of hearing in both ears (must continue for six consecutive months)||$5,000|
|Loss of speech (must continue for six consecutive months)||$10,000|
|Paralysis of one arm||$2,500|
|Paralysis of one leg||$2,500|
|Coma – benefit becomes payable on the 7th day of a coma||$100/month for up to a maximum of 60 months|
|Brain damage – requires a five‐day hospitalization and brain damage that has persisted for 12 consecutive months||$10,000|
|More than one of the above resulting from one accident||$10,000 or the sum of the benefits payable for each loss (whichever is less)|