Life Insurance

Life Insurance

 

Optional Term Life

When you enroll in HealthSelect, you receive $5,000 in term life insurance with $5,000 in accidental death and dismemberment (AD&D) insurance. If you want additional coverage, you may purchase optional term life insurance with AD&D coverage. Your options are:

 

Election I: 1 times salary (enrollment guaranteed if you apply during initial eligibility period)
Election II: 2 times salary (enrollment guaranteed if you apply during initial eligibility period)
Election III: 3 times salary (evidence of insurability required)
Election IV: 4 times salary (evidence of insurability required)


Term life provides a benefit to your beneficiary in the event of your death. AD&D provides an additional benefit to your beneficiary in the event of your accidental death.  The third-party administrator for this insurance is Fort Dearborn Life Insurance Company (FDL).

Dependent Term Life

Dependent term life insurance pays a benefit to you upon the death of your covered dependent. It provides $5,000 in term life and $5,000 in accidental death and dismemberment coverage on each of your covered dependents.  The third-party administrator for this insurance is Fort Dearborn Life Insurance Company (FDL).

Voluntary Accident and Dismemberment

Voluntary accidental death and dismemberment is available to the employee and their dependents. It pays in the event death occurs as the direct result of an accident. Dismemberment benefits are paid in the event of loss of a major limb of the body. A full description of the plan is available in the Benefits Office. Employees under age 70 may purchase between $10,000 and $200,000 of coverage in increments of $5,000. The dependents are covered for a percentage of the employee's amount of coverage.  The third-party administrator for this insurance is Fort Dearborn Life Insurance Company (FDL).