Employer Paid Life AD&D Benefit through Sun Life
Life Insurance is often one of the cornerstones of financial planning. Should the unexpected happen, life insurance can help safeguard your family needs. MSI is pleased to provide Life and Accidental Death and Dismemberment (AD&D) Insurance to all employees. This is an employer paid benefit through Lincoln Financial.
MSI pays the full cost of basic life and AD&D insurance for all eligible employees.
- A cash benefit of $10,000 to your loved ones in the event of your death, plus a matching cash benefit if you die in an accident.
- Portability: coverage may be ported upon termination of active employement.
- Conversion privilege.
Benefit Reduction: Coverage amounts begin to reduce at age 70 and benefits terminate at retirement. See the
plan certificate for details.
Don’t forget to designate your beneficiary! If no beneficiary election has been made, MSI must pay out your benefit to your estate in case of death.
Looking for More?
Click on the following link to find the Life AD&D Summary
Supplemental Life AD&D
This video will help explain the benefits of life insurance. In addition to the paid life and accidental death and dismemberment benefits, you may qualify to purchase optional coverage amounts up to five times your annual earnings $500,000 maximum in increments of $10,000. Initial enrollment allows for up to $100,000 on a guarantee issue basis for employees, $25,000 spouse and $10,000 for child. Amounts in excess of the previously listed guarantee issue will require that you satisfy Evidence of Insurability.
Looking for More?
Click on the following link to find the Supplemental Life AD&D Summary
