Offered by: 
Standard Insurance Company.

Employee Cost (per month):
$0.00 (paid 100% by NACOG)

Life Insurance/AD&D Benefit Summary:

BENEFIT COVERAGE
Life Insurance One (1) times annual salary ($10,000 minimum)
AD&D One (1) times annual salary ($10,000 minimum)

AD&D

Amount payable for loss of:

Loss of life: 100%

Loss of one hand/foot or sight of one eye: 50%

Two or more of the above losses in one accident: 100%

Reduction in Insurance (Life and AD&D)

If you reach an age shown below, the amount of insurance will be the amount determined from the Schedule of Insurance, multiplied by the appropriate percentage below:

  • Age 65-69: 65%
  • Age 70 or older: 50%

 

 Additional Life Insurance Benefits:

Waiver of Premium  If a covered employee becomes diabled before age 60, after a 180-day waiting period, premiums are paid for by the insurance company to continue the life insurance coverage until the employee is no longer disabled or reaches age 65.

Accelerated Benefit  If an employee is diagnosed as terminally ill, with a life expectancy of less than twelve (12) months, the employee can request up to 75% of their life insurance benefity (minimum $5,000) to use as they wish.  This request reduces the benefit amount received by the beneficiary.

Repatriation Benefit  If an employee death occurs more than 200 miles from their primary residence, Standard Insurance Company will pay up to 10% of the individual's life insurance benefity (maximum $5,000) to transport the deceased back to a mortuary near their home.

Additional Accidental Death & Dismemberment Benefits:
The following additional benefits are payable if an employee's death is the result of an accident for which AD&D is payable:

Seat Belt Benefit  If an employee is wearing a seat belt at the time of the accident, the employee's beneficiary will receive an additional $10,000.

Career Adjustment Benefit  Standard Insurance Company will pay up to 25% of the AD&D benefit (maximum $10,000) toward the cost of vocational training for the employee's spouse with the purpose of earning future income.  This benefit is only available for 36 months after the employee's death.

Child Care Benefit  Standard Insurance Company will pay up to 25% of the AD&D benefit (maximum $10,000) toward the cost of child care when a spouse returns to work or attends job training.  This benefit is only available for 36 months after the employee's death.

Higher Education Benefit  Standard Insurance Company will pay up to 25% of the AD&D benefit (up to $5,000 per year for 4 consecutive years, maximum $20,000) to cover tuition expenses for surviving children already in college or children who will be attending college within one (1) year of the employee's death.

For questions regarding your life insurance benefits, contact NACOG's Human Resources Department.

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