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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.

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

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.

Evidence of Insurability (EOI) will be required for anyone who enroll in the benefit outside of the initial eligibility period.

Life insurance can help with replacing lost income paying medical and funeral bills.

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.

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.
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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.

If you elect additional coverage you pay the cost of the premium.

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.

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.

Evidence of Insurability (EOI) will be required for all employees who enroll outside of their initial eligibility period.

If you elect additional coverage and leave Franklin Pierce University you can elect to purchase this policy and pay the premiums on your own.

AD&D insurance covers unexpected and usually accidents without warning and employees don’t have to let an injury catch them off guard.

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.

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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