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Life Insurance
Mutual of Omaha Basic Life
and AD&D
Your Basic Life and AD&D insurance benefits
are some of the most valuable benefits available to you.
Whether married, single, starting a family a life insurance
policy can help minimize financial burdens to loved ones if you
die or are an accident and severely injured.
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FPU pays for your basic life insurance. Both Life and AD&D benefit
coverage information as follows:
Non-Exempt Employees – 1.5x annual earnings up to
$225,000
Exempt Employees – 2x annual earnings up to $225,000
Executive & Officer – 3x annual earnings up to $500,000 |
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If you are newly hired faculty or staff member, you have
a Guarantee Issue amount of $150,000 for yourself and
$30,000 for your spouse. Guarantee Issue means you are
not required to complete an Evidence of Insurability
form. |
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Evidence of
Insurability (EOI) will be required for anyone who
enroll in the benefit outside of the initial eligibility
period. |
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Life
insurance can help with replacing lost income paying
medical and funeral bills. |
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If you
elect additional coverage beyond the basic coverage and
you leave Franklin Pierce University, you can elect to
purchase this policy and pay the premiums on your own. |
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AD&D
insurance pays lump sum cash benefit for covered
employees injuries which resulted from an accident. This
cash benefit from accident insurance helps pay
out-of-pocket medical expenses, loss of income from
unpaid time off. The coverage is fully portable meaning
you can roll it over to your own plan if you leave
Franklin Pierce.
Age. |
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Mutual of Omaha
Voluntary Life and AD&D
Your Voluntary Life and Accidental Death& Dismemberment
insurance benefits are also available to you. Whether married,
single and starting a family you can elect to purchase
additional Life and AD&D insurance. |
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If you
elect additional coverage you pay the cost of the
premium. |
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The
following coverage amounts are available as follows:
Employee: up to 5x salary in increments on $10,000.
Not to exceed
$500,000
Spouse: up to 100% of employee amount in increments of
$10,000.
Not to exceed $500,000.
Benefits will be paid to
the Employee
Child: up to 100% of employee coverage amount in
increment of $2,500
Not to exceed $10,000.
The maximum death benefit
for a child between the ages of live birth to 6 months
is $1,000. |
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For a new hire,
eligibility for a Guarantee Issue amount of $150,000
for employee and $30,000 for spouse is available. Only
available for the first 30 days past hire date. Guarantee Issue
means you are not required to complete an Evidence of
Insurability form. |
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Evidence of
Insurability (EOI) will be required for all employees
who enroll outside of their initial eligibility period. |
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If you
elect additional coverage and leave Franklin Pierce
University you can elect to purchase this policy and pay
the premiums on your own. |
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AD&D
insurance covers unexpected and usually accidents
without warning and employees don’t have to let an
injury catch them off guard. |
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AD&D
insurance pays lump sum cash benefit for covered
employees injuries which resulted from an accident. This
cash benefit from accident insurance helps pay
out-of-pocket medical expenses, loss of income from
unpaid time off. This coverage is fully portable. |
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Plan Details
Exempt Faculty and Staff Life and AD&D Summary
Non-Exempt Staff Life and AD&D Summary
Executive Life and AD&D Summary
Voluntary Life AD&D Summary
(800)655-5142
www.mutualofomaha.com
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