Life and AD&D Insurance
Life And Accidental Death & Dismemberment (AD&D)
Life insurance is an important part of your financial security, especially if others depend on you for support. Accidental Death & Dismemberment (AD&D) insurance is designed to provide an additional benefit in the event of accidental death or following accidental injury which results in a personal loss. This benefit is provided through Guardian.
The Company provides $25,000 of Basic Life and AD&D insurance to all eligible team members at no cost to you.
Common Life Insurance Terms:
Accidental Death & Dismemberment Insurance (AD&D): Generally, an add-on to a regular life insurance policy, only paid if the death or dismemberment of the insured occurs as the result of an accident.
Age Reductions: Most insurance policies reduce your life insurance benefit as you age.
Beneficiary: The person or party named by the owner of a life insurance policy to receive the policy benefit.
Contingent beneficiary: The party designated to receive proceeds of a life insurance policy following the insured’s death if the primary beneficiary predeceased the insured.
Conversion: If you ever leave employment, you may be able to convert the group policy into an individually owned whole life insurance policy.
Coverage Amount: Value of life insurance.
Portable: If you ever leave employment, you may be able to continue the life insurance as an individual term policy.
Premiums: Amount paid to the insurance company to buy a policy and keep it in force.
