Page 10 - ProModel 2015 Benefits Guide
P. 10
Life Insurance Plan Summary
ProModel provides full-time employees with Group Life And
Accidental Death and Dismemberment (AD&D) insurance equal to 3
LIFE INSURANCE times your annual salary to a maximum of $310,000 and pays the full
cost of this beneit.
This coverage provides a death beneit to your named beneiciary in the
event of your death on or off the job while covered by the policy. All
employees are automatically enrolled in the Life/AD&D program when
eligible.
Accidental Death and Dismemberment insurance (sometimes referred
to as “double indemnity”) provides an additional beneit should you
suffer a physical loss due to an accident. Employees covered by the
group term life insurance contract also receive this coverage.
If you died in a car accident, your death may be ruled accidental. Your
beneiciary would receive not only your group term life insurance
beneit, but also an additional beneit equal to that amount from this
coverage.
If you suffered the unfortunate loss of a hand, foot, or eyesight, this
same provision would pay you a beneit for your loss. Additional details
about this important beneit can be found in your insurance certiicate.
Your Beneficiary and Changing Your Beneficiary
The proceeds of a life insurance policy are distributed upon death
to your chosen beneiciary. A life insurance beneiciary can be an
individual, your estate, or an organization. When designating a
beneiciary, you should speciically name the individual and indicate
the portion of the proceeds she/he is to receive. Also, keep in mind
it is unwise to name a minor dependent as a direct beneiciary for life
insurance.
Remember to update the beneiciaries named in your insurance policy
with every life change—such as marriage, divorce, birth of a child, or
death of a beneiciary. Changing or adding a beneiciary is a simple
process. If you feel you need to update your beneiciary under the life
insurance policy issued to you by ProModel please contact Human
Resources.
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ProModel provides full-time employees with Group Life And
Accidental Death and Dismemberment (AD&D) insurance equal to 3
LIFE INSURANCE times your annual salary to a maximum of $310,000 and pays the full
cost of this beneit.
This coverage provides a death beneit to your named beneiciary in the
event of your death on or off the job while covered by the policy. All
employees are automatically enrolled in the Life/AD&D program when
eligible.
Accidental Death and Dismemberment insurance (sometimes referred
to as “double indemnity”) provides an additional beneit should you
suffer a physical loss due to an accident. Employees covered by the
group term life insurance contract also receive this coverage.
If you died in a car accident, your death may be ruled accidental. Your
beneiciary would receive not only your group term life insurance
beneit, but also an additional beneit equal to that amount from this
coverage.
If you suffered the unfortunate loss of a hand, foot, or eyesight, this
same provision would pay you a beneit for your loss. Additional details
about this important beneit can be found in your insurance certiicate.
Your Beneficiary and Changing Your Beneficiary
The proceeds of a life insurance policy are distributed upon death
to your chosen beneiciary. A life insurance beneiciary can be an
individual, your estate, or an organization. When designating a
beneiciary, you should speciically name the individual and indicate
the portion of the proceeds she/he is to receive. Also, keep in mind
it is unwise to name a minor dependent as a direct beneiciary for life
insurance.
Remember to update the beneiciaries named in your insurance policy
with every life change—such as marriage, divorce, birth of a child, or
death of a beneiciary. Changing or adding a beneiciary is a simple
process. If you feel you need to update your beneiciary under the life
insurance policy issued to you by ProModel please contact Human
Resources.
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