Page 19 - Saddleback EE Guide 07-20 v.7 FINAL
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Life/AD&D
It’s never fun to discuss life insurance, but you probably know that life insurance is something that you need to
protect your loved ones in the event of your death. Things like funeral expenses, debt, and the cost of living, can
all add up. Fortunately, life insurance can help lessen the financial burden and provide coverage to help pay for
these types of expenses.
Mutual of Omaha | Mutual of Omaha | Voluntary Life
Basic Life and AD&D In addition to the church-provided Basic Life benefits, you may
This coverage is provided by Saddleback elect to purchase additional Term Life insurance at discounted
Church at no cost to you group rates provided by Mutual of Omaha. You pay for this
Life insurance protects your family or other coverage with after-tax dollars through convenient payroll
beneficiaries in the event of your death deductions. Life benefits will reduce by certain percentages as
while you are still actively employed with you age, and will terminate when you leave the church or retire.
the church.
Voluntary Life
Accidental Death and Dismemberment Employee
(AD&D) coverage provides an additional You may purchase coverage for yourself in increments of
benefit to your beneficiary if your death is $10,000 up to a maximum benefit of $300,000, not to exceed 5
due to a covered accident or injury. times your annual salary.
Life benefits will reduce by certain Spouse
If you buy coverage for yourself, you may also purchase coverage
percentages as you age, and will terminate for your eligible spouse. The base policy for spousal coverage is
when you leave the church or retire. $10,000. Additional spouse coverage is available up to a
maximum benefit of $300,000. You may elect up to 100% of the
Basic Life and AD&D employee voluntary life amount for spouse coverage. The spouse
rate is based on the employee’s date of birth.
A benefit will be paid based on a
multiple of your annual salary Child(ren)
If you buy coverage for yourself, you may also purchase coverage
for your eligible dependent child(ren). Coverage for your
children up to 26 years old, available in the amount of $10,000.
Guarantee Issue
Guarantee issue is a pre-approved amount of coverage that does
not require you to provide proof of good health, and is available
to you during your initial eligibility period (upon hire).
Choosing a Beneficiary Guarantee issue is available in the following amounts:
• Employee: The lesser of 5x annual salary or $100,000
A beneficiary is a person or entity who • Spouse: $50,000
you designate to receive your death • Child(ren): Entire benefit amount ($10,000)
benefits. Choosing a beneficiary and
keeping your beneficiary up-to-date is an If you are no longer in your initial eligibility period, you may
essential part of owning life insurance. enroll in Voluntary Life insurance anytime during the year as
Please remember to review your long as you provide proof of good health. To provide proof of
beneficiary designation as new situations good health, you will be asked to complete a health
arise, such as the birth or adoption of a questionnaire (Evidence of Insurability) and are subject to
child, marriage, or divorce. You may insurance carrier approval. Mutual of Omaha may approve or
login to UltiPro to change your decline coverage based on a review of your health history.
Beneficiary as needed.
You have an opportunity to increase your coverage amount by
$10,000, up to the $100,000 Guaranteed Issue limit, annually at
Open Enrollment.
Employee Benefits 19
