Basic Life & AD&D
Life insurance and Accidental Death & Dismemberment (AD&D) insurance provide funds for those who have lost someone or for those who are seriously injured. Life insurance pays funds to your designated beneficiaries after your death, while AD&D pays an amount equal to your life insurance in the event of an accidental death. In the event of a loss of limb, eyesight, hearing or other covered loss, a predetermined amount will be payable to you. Basic Life insurance is provided to you at no cost.
| Mutual of Omaha—Basic Life and AD&D Insurance | |
| Benefits |
|
| Life Insurance | 2 times salary up to $450,000 |
| AD&D Insurance | 2 times salary up to $450,000 |
| Conversion | Available within 31 days from termination of group plan |
| Accelerated Benefit | 75% up to $150,000 if insured person’s medical condition is expected to result in death within 12 months, as diagnosed by a physician |
| Age Reductions |
|
| At Age 65 | Reduced by 35% of original benefit |
| At Age 70 | Reduced by an additional 15% |
| At Retirement | Benefit terminates |
VOLUNTARY LIFE AND AD&D INSURANCE
You are eligible to enroll in an additional Life and AD&D policy at your cost. If you are in your initial eligibility period, you may be eligible for coverage under guarantee issue, otherwise, you may be required to ask some health questions.
| Mutual of Omaha—Voluntary Life and AD&D | |
| benefits |
|
| Life Insurance Employee Spouse Dependent Children |
$10,000 to 5 times salary or $500,000 $5,000 to $250,000 $1,000 to $10,000 |
| Guaranteed Issue Employee Spouse Dependent Children |
5 times salary or $100,000 Up to $30,000 $1,000 up to 100% of employee benefit |
| Conversion | Available within 31 days from termination of group plan |
| Age Reductions |
|
| At Age 65 | Reduced by 35% of original benefit |
| At Age 70 | Reduced by an additional 15% |
| At Retirement | Benefit terminates |