Page 13 - Future Steps
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Life and Accident Insurance
Basic Life Insurance Business Travel
NISC provides term life insurance through Liberty Mutual with a beneit Accident
equal to three times your annual base salary. This coverage, which NISC provides at no cost
includes basic life and accidental death and dismemberment insurance, to you (the employee) a
offers inancial protection to you if you suffer certain debilitating injuries $100,000 accidental death and
or to your beneiciaries in the event of your death. There is no premium dismemberment policy to insure
cost to you for basic life coverage (although any employer-paid premium you while you travel on business.
for coverage in excess of $50,000 is taxable to the employee). You may This policy does not cover travel
elect to increase your life insurance coverage equal to four times your to and from work.
annual base salary upon payment of a premium.
Dependent Life
NISC provides term life insurance coverage for your spouse in the
amount of $5,000 and for dependent children in the amount of $2,000.
There is no premium cost to you for basic dependent life coverage
(although any employer-paid premium for coverage in excess of $2,000 is
taxable to the employee). You may elect to increase the amount of your
spouse/dependent life insurance by either two or four times the base
amount upon payment of a premium.
Voluntary Life Insurance
You may purchase additional life insurance coverage at a competitive
group rate through Liberty Mutual. Coverage is available in $10,000
increments, up to a maximum of $500,000. Evidence of insurability (or,
proof of good health) is required for voluntary life coverage in excess of
$200,000.
Employees who purchase voluntary term life may also purchase
additional spouse and dependent term life. Coverage for spouses is
available in $5,000 increments, up to 50% of the employee amount
(or $250,000, whichever is less). Evidence of insurability or medical
questioning is required for coverage of a spouse in excess of $30,000.
Coverage for children is available in $2,000 increments up to $20,000.
Children are not subject to medical questions.
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Basic Life Insurance Business Travel
NISC provides term life insurance through Liberty Mutual with a beneit Accident
equal to three times your annual base salary. This coverage, which NISC provides at no cost
includes basic life and accidental death and dismemberment insurance, to you (the employee) a
offers inancial protection to you if you suffer certain debilitating injuries $100,000 accidental death and
or to your beneiciaries in the event of your death. There is no premium dismemberment policy to insure
cost to you for basic life coverage (although any employer-paid premium you while you travel on business.
for coverage in excess of $50,000 is taxable to the employee). You may This policy does not cover travel
elect to increase your life insurance coverage equal to four times your to and from work.
annual base salary upon payment of a premium.
Dependent Life
NISC provides term life insurance coverage for your spouse in the
amount of $5,000 and for dependent children in the amount of $2,000.
There is no premium cost to you for basic dependent life coverage
(although any employer-paid premium for coverage in excess of $2,000 is
taxable to the employee). You may elect to increase the amount of your
spouse/dependent life insurance by either two or four times the base
amount upon payment of a premium.
Voluntary Life Insurance
You may purchase additional life insurance coverage at a competitive
group rate through Liberty Mutual. Coverage is available in $10,000
increments, up to a maximum of $500,000. Evidence of insurability (or,
proof of good health) is required for voluntary life coverage in excess of
$200,000.
Employees who purchase voluntary term life may also purchase
additional spouse and dependent term life. Coverage for spouses is
available in $5,000 increments, up to 50% of the employee amount
(or $250,000, whichever is less). Evidence of insurability or medical
questioning is required for coverage of a spouse in excess of $30,000.
Coverage for children is available in $2,000 increments up to $20,000.
Children are not subject to medical questions.
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