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LIFE / AD&D INSURANCE
Life insurance is an important part of your financial security, especially if you support a family. Accidental Death & Dismemberment (AD&D) Insurance provides a benefit in the event of your accidental death or dismemberment. Coverage is through Sun Life.
BASIC LIFE / AD&D INSURANCE
BENEFIT
EMPLOYEE
• Employer-provided Basic Life and AD&D coverage
• Benefit amount: equivalent to 1 x salary
• Coverage is automatic
SPOUSE AND/OR CHILD(REN)
• Employee-paid Basic Life coverage
• Benefit amount: $2,500 per person
• Cost: $1.04 per month
• You may elect without electing additional coverage on yourself
• Coverage is not automatic, be sure to enroll
OPTIONAL LIFE / AD&D INSURANCE
BENEFIT
EMPLOYEE
• Employee-paid optional life and AD&D coverage
• Benefit amount: equivalent to 1 x, 2 x, or 3 x salary
• Benefit maximum: $400,000
• Evidence of Insurability (EOI) completion required if not elected when first eligible or to increase current election. EOI form is located on Corecon/Benefits.
• Rates are based on your salary and age
SPOUSE
• Employee-paid optional life coverage
• Benefit amount: increments of $10,000
• Benefit maximum: the lesser of 100% of the employee amount or $250,000
• Evidence of Insurability (EOI) completion required if not elected when first eligible or to increase current election. EOI form is located on Corecon/Benefits.
• You must purchase optional life insurance on yourself in order to purchase additional life insurance on your spouse
• Rates are based on the amount of coverage elected and employee age
CHILD(REN) -
• Employee-paid optional life coverage
• Benefit amount and rate:
− $2,500 ($.50 per month) − $5,000 ($1.00 per month) − $7,500 ($1.50 per month) − $10,000 ($2.00 per month)
• You must purchase optional life insurance on yourself in order to purchase optional life insurance on your child(ren)
• Evidence of Insurability (EOI) is required if not elected when first eligible or to increase current election. EOI form is located on Corecon/Benefits.
Note:
1) If you, your spouse and or dependent child(ren) are employees of the City of Raleigh – you may not cover those dependents with optional life coverage if they have elected it on themselves. SunLife will only honor one optional life policy per covered member .
2) If electing outside of initial eligibility period, electing more than $125,000 for optional employee or $10,000 optional spouse life, the Evidence of Insurability located at www.mysunlifebenefits.com must be completed within 30 days of completing your benefit elections. Coverage will become effective upon medical underwriting approval.
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