Page 15 - 2015 NISC Open Enrollment
P. 15
2015 Open Enrollment
Life and Accident
Insurance
Basic Life Insurance
NISC provides term life insurance through Guardian with a beneit equal
to three times your annual base salary. This coverage, which includes basic
life and accidental death and dismemberment insurance, offers inancial
protection to you if you suffer certain debilitating injuries or to your
beneiciaries if you die. There is no premium cost to you for basic life
coverage (although any employer-paid premium for coverage in excess of
$50,000 is taxable to the employee). You may elect to increase your life
insurance coverage equal to four times your annual base salary upon payment
of a premium.
Dependent Life Business Travel
NISC provides term life insurance coverage for your spouse in the amount of Accident
$5,000 and for any dependents in the amount of $2,000. There is no premium NISC provides at no cost
cost to you for basic dependent life coverage (although any employer-paid to you (the employee) a
premium for coverage in excess of $2,000 is taxable to the employee). You $100,000 accidental death and
may elect to increase the amount of your spouse/dependent life insurance by dismemberment policy to insure
either two or four times the base amount upon payment of a premium. you while you travel on business.
This policy does not cover travel
Voluntary Life Insurance to and from work.
You may purchase additional life insurance coverage at a competitive group
rate through Guardian. Coverage is available in $10,000 increments, up to
a maximum of four times your annual base salary. Evidence of Insurability
(or, proof of good health) is required for voluntary life coverage in excess of Naming a Beneficiary
$200,000. For life insurance coverage, you
must name a beneiciary. The
Voluntary Dependent Life Insurance beneiciary is the person who will
Employees who purchase voluntary term life may also purchase additional receive the beneit in the event
of your death. If you name more
spouse and dependent term life. Coverage for spouses is available in $10,000 than one beneiciary, be sure to
increments, up to 50% of the employee amount (or $250,000, whichever indicate the beneit percentage
is less). Coverage for dependents is available up to 10% of the employee you wish each beneiciary to
receive. The percentages must
amount (or $10,000, whichever is less). Evidence of Insurability is required add up to 100%. Beneiciaries
for coverage of a spouse in excess of $50,000 and for coverage of a child in may be changed at any time
excess of $15,000. during the year.
15
Life and Accident
Insurance
Basic Life Insurance
NISC provides term life insurance through Guardian with a beneit equal
to three times your annual base salary. This coverage, which includes basic
life and accidental death and dismemberment insurance, offers inancial
protection to you if you suffer certain debilitating injuries or to your
beneiciaries if you die. There is no premium cost to you for basic life
coverage (although any employer-paid premium for coverage in excess of
$50,000 is taxable to the employee). You may elect to increase your life
insurance coverage equal to four times your annual base salary upon payment
of a premium.
Dependent Life Business Travel
NISC provides term life insurance coverage for your spouse in the amount of Accident
$5,000 and for any dependents in the amount of $2,000. There is no premium NISC provides at no cost
cost to you for basic dependent life coverage (although any employer-paid to you (the employee) a
premium for coverage in excess of $2,000 is taxable to the employee). You $100,000 accidental death and
may elect to increase the amount of your spouse/dependent life insurance by dismemberment policy to insure
either two or four times the base amount upon payment of a premium. you while you travel on business.
This policy does not cover travel
Voluntary Life Insurance to and from work.
You may purchase additional life insurance coverage at a competitive group
rate through Guardian. Coverage is available in $10,000 increments, up to
a maximum of four times your annual base salary. Evidence of Insurability
(or, proof of good health) is required for voluntary life coverage in excess of Naming a Beneficiary
$200,000. For life insurance coverage, you
must name a beneiciary. The
Voluntary Dependent Life Insurance beneiciary is the person who will
Employees who purchase voluntary term life may also purchase additional receive the beneit in the event
of your death. If you name more
spouse and dependent term life. Coverage for spouses is available in $10,000 than one beneiciary, be sure to
increments, up to 50% of the employee amount (or $250,000, whichever indicate the beneit percentage
is less). Coverage for dependents is available up to 10% of the employee you wish each beneiciary to
receive. The percentages must
amount (or $10,000, whichever is less). Evidence of Insurability is required add up to 100%. Beneiciaries
for coverage of a spouse in excess of $50,000 and for coverage of a child in may be changed at any time
excess of $15,000. during the year.
15
