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Life and Disability Insurance
Life Insurance
Life insurance can provide valuable inancial protection and Nortek offers
you the choice of different levels of coverage to meet your needs. Nortek
provides two Term Life Insurance Plans: the Basic Term Life Insurance
Plan and the Optional Term Life Insurance Plan. The Life Insurance
Plans are insured and administered by the Standard Life Insurance
Company (The Standard).
Basic Term Life and AD&D Insurance Plan
The Basic Term Life Insurance Plan is provided automatically by Nortek,
to employees working 30 hours per week or more, at no cost to you. You
will automatically receive basic term life insurance of two times your
salary, up to $300,000. The life insurance plan pays a lump sum beneit
to your beneiciary in the event of your death while actively employed by
Nortek. Basic Accidental Death & Dismemberment (AD&D) insurance,
also provided at no cost to you, offers additional coverage in the event
of death or injury resulting from an accident. For a covered accidental
loss of life, your Basic AD&D coverage amount is equal to your basic life
coverage amount. For other covered losses, a percentage of this beneit
will be available.
The plan also can pay a living beneit. If you become terminally ill, you
may elect to have the plan pay out a beneit while you are still living. Any
amount you receive will reduce the beneit paid to your beneiciary. In
addition, the Basic Term Life and AD&D policies are portable, should
you leave the company.
Nortek
Life and Disability Insurance
Life Insurance
Life insurance can provide valuable inancial protection and Nortek offers
you the choice of different levels of coverage to meet your needs. Nortek
provides two Term Life Insurance Plans: the Basic Term Life Insurance
Plan and the Optional Term Life Insurance Plan. The Life Insurance
Plans are insured and administered by the Standard Life Insurance
Company (The Standard).
Basic Term Life and AD&D Insurance Plan
The Basic Term Life Insurance Plan is provided automatically by Nortek,
to employees working 30 hours per week or more, at no cost to you. You
will automatically receive basic term life insurance of two times your
salary, up to $300,000. The life insurance plan pays a lump sum beneit
to your beneiciary in the event of your death while actively employed by
Nortek. Basic Accidental Death & Dismemberment (AD&D) insurance,
also provided at no cost to you, offers additional coverage in the event
of death or injury resulting from an accident. For a covered accidental
loss of life, your Basic AD&D coverage amount is equal to your basic life
coverage amount. For other covered losses, a percentage of this beneit
will be available.
The plan also can pay a living beneit. If you become terminally ill, you
may elect to have the plan pay out a beneit while you are still living. Any
amount you receive will reduce the beneit paid to your beneiciary. In
addition, the Basic Term Life and AD&D policies are portable, should
you leave the company.
Nortek
