Life and AD&D Insurance
Life and Accidental Death & Dismemberment (AD&D) insurance helps protect your loved ones financially if you pass away or experience a serious injury. These benefits can help cover final expenses, pay off debts like credit cards or mortgages, or provide additional financial stability during a difficult time. Even if you’re single, naming a beneficiary ensures someone you care about receives the support. Coverage includes Basic Life and AD&D at no cost to you, with the option to purchase additional Voluntary Life and AD&D insurance for yourself and your family at group rates.
Basic Life and AD&D
WideOrbit provides $100,000 of Life and AD&D insurance at no cost to you.
Imputed Income: Under current tax laws, imputed income is the value of your Basic Life insurance that exceeds $50,000 and is subject to federal income, Social Security and state income taxes, if applicable. This imputed income amount will be included in your paycheck and shown on your W-2 statement.
Note: It is important to provide beneficiary information during the enrollment process and keep this information up to date.
Voluntary Life and AD&D
Voluntary Life and AD&D: In addition to Basic Life and AD&D, eligible employees may purchase additional Voluntary Life and AD&D insurance at favorable group rates. Participants pay 100% of the premium. If you decline Voluntary Life insurance when first eligible or if you elect coverage and wish to increase your benefit amount at a later date, evidence of insurability may be required before coverage is approved.
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For you: Increments of $10,000 up to lesser of 5x times your covered annual earnings or $500,000. Guarantee issue the lesser of 5x salary or $150,000.
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For your spouse: Increments of $5,000 up to lesser of 100% of employee amount or $250,000. Guarantee issue the lesser of 100% employee benefit or $25,000.
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For your children: $10,000. Guaranteed issue of $10,000.