Page 14 - Washington Nationals 2023 Benefits Guide -10.26.22_Neat
P. 14
LIFE AND AD&D INSURANCE
Life and AD&D Insurance - The Standard
To provide financial protection for your family, Washington Nationals provides 100% employer paid Basic Life
and AD&D insurance to benefit eligible employees through The Standard. In the event of our death, life
_
insurance benefits protect your family financially. AD&D is a benefit paid in the event of dismemberment
or as an addition to your life insurance if death results from an accident. You have the option to purchase, at
reduced group rates, additional (voluntary) life insurance for yourself, your spouse and dependents.
Benefit Information
• Premiums paid by the Company
• Employee Benefit Amount:
Class Benefit
# 1 (Front Office Staff) 2X annual salary to a maximum of $80,000.
#2 (Minor League Field Personnel) 2X annual salary to a maximum of $80,000, minus
$20,000.
#3 (Front Office Minor League Field Personnel 2 X annual salary to a maximum of $80,000, minus
covered on MLB Insurance) the amount of Life insurance benefit provided
under the Major League Baseball Benefit Plan.
Reduction Schedule:
• 35% at age 65
• 50% at age 70
• 65% at age 75
Conversion of Coverage
The Basic Life plan is fully convertible. This allows an employee to convert all or part of the employee
life insurance coverage to an Individual self-paid policy when insurance is reduced under certain
circumstances
The above is a brief summary of this benefit option.
Click here for more detailed information on this available benefit option.
2023 Washington Nationals Benefit Guide Page 14
