Life and AD&D
Basic Life and AD&D
IMEG provides basic life and AD&D benefits. All full-time employees are provided a benefit equal to one times what your annual salary is, up to a maximum of $375,000. In the event a person was to die as a result of an accidental death, an additional one-time salary would be payed to your beneficiary, also subject to the $375,000 maximum. Please make sure you update any beneficiary changes during enrollment.
Voluntary Life and AD&D
To help ensure you and your family have the protection you need, we also give employees the ability to buy additional life/AD&D coverage.
If you’d like to buy additional coverage on yourself, you can buy up to 5x your annual earnings in $10,000 increments, up to $500,000 worth of coverage. The first $150,000 that you sign up for as a new employee is available without having to answer health questions. Any amount above and beyond that would be subject to health questions (or evidence of insurability).
For your spouse you can purchase up to $250,000 worth of coverage in $5,000 increments, not to exceed 100% of your elected amount. For your spouse the maximum they can get without having to answer health questions at this time is $30,000.
Last but not least, you may wish to cover your children and you can do so in $5,000 increments up to $25,000 worth of the coverage. A full benefit is payable for a dependent child who is 6 months to 26. A reduced benefit of $1,000 is payable for a child from birth to 14 days and $10,000 is payable for a child from 14 days to 6 months.
