Life, AD&D and LTD
Our Life, Accidental Death and Dismemberment (AD&D), and Long Term Disability (LTD) coverage are all centralized under one carrier, Mutual of Omaha. All full-time staff are eligible for this coverage with no cost to the employee as premiums are paid by the employer! Beneficiaries for each of the company provide policies are appointment by you and can be changed at any time through ADP.
Coverage begins on the first of the month following the first of the month following an employee's hire date. Employees receive comprehensive coverage based on their assigned class.
Class I - Newly Hired 100% Commissioned Employees (one year or less)
Class II - Existing 100% Commissioned Employees
Class III - All other Eligible Employees (which includes a majority of staff)
The value of benefits assigned is as follows:
Class I - $150,000.00
Class II - 1.25 times prior year W2 earnings, not to exceed $500,000
Class III - 2.50 times base salary, not to exceed $500,000
Accidental Death and Dismemberment Insurance (AD&D)
In addition to Group Life Insurance coverage, we provide full-time employees with additional coverage and protection in the event of accidental death or bodily injury. AD&D provides a benefit equal to the amount of life insurance and will cover for specified bodily injury losses subject to policy limitations. Coverage begins on the first of the month following the employee's hire date.
Long-Term Disability (LTD)
We provide full-time employees with protection against the loss of income due to illness or injury with Long Term Disability benefits through Mutual of Omaha valued at 60%. In the event you become disabled from an injury or sickness, disability income benefits are provided as a source of income. Employees receive comprehensive coverage based on their assigned class:
All Other Eligible Employees (which includes a majority of staff)