Page 13 - VIP Mortgage Benefit Guide FINAL
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Life Insurance – NEW CARRIER!
New in 2021, Mutual of Omaha will be taking over the life insurance offered to you and your family! This year brings with it
great savings on most lines and an opportunity to elect up to the Guarantee Issue amount without answering medical
questions. Below is an outline of the benefits available to you and your family! The new lower rates will be personalized to
you in iSolved during the enrollment.
SUMMARY OF COVERAGE
Employer-paid Basic Life Insurance
Employee Benefit Amount $50,000
Supplemental / Voluntary Term Life Insurance
Employee Benefit Amount $10,000 Increments ($20,000 Minimum Benefit)
Guarantee Issue Amount $150,000
Maximum Benefit Amount 5x Annual Salary up to $500,000
Spouse Benefit Increments of $5,000
Spouse Guarantee Issue Amount $50,000
Spouse Maximum Benefit Amount 50% of Employee amount or $250,000
Dependent Child Benefit Increments of $1,000 up to $10,000 (All Guaranteed Issue)
This booklet provides only a summary of your benefits. All services described within
2021 -2022 Employee Benefit Guide
are subject to the definitions, limitations, and exclusions set forth in each insurance 13
carrier or provider’s contract.
