Employee Life Insurance

Benefit: 1 times annual earnings rounded to the next higher $1,000 to a maximum benefit of $300,000 . Provides 24-hour coverage of death at any time or place, from any cause.

No-Evidence Maximum: $100,000.

Life Insurance Reduction: Coverage will reduce at age 65 to 25% of the face value and terminate at age 75.

Living Benefit: Disabled employees suffering from a terminal illness may be eligible for payment of a Living Benefit equal to the lesser of $25,000 or 50% of their Life Benefit.

Dependents Life Insurance

Benefit: $15,000 of Life Insurance coverage for the spouse of the insured. $7,500 coverage for each child of the insured. The face amount is payable in the event of death at any time or place from any cause.


The employee is the beneficiary of any insurance benefits payable under this coverage.


If an employee’s coverage ends, a spouse may apply for an individual policy of life insurance without medical evidence as long as written application is submitted and the first premium is paid within 31 days of the date of termination of the employee’s coverage. The alternative policies include any plan, other than term insurance, offered by the Insurance Company.

Extension of Benefit

If a spouse dies within 31 days of the termination of the insurance under this benefit, the amount of life insurance the spouse was eligible to convert will be payable.