Group Life Insurance
The Company automatically provides you with $10,000 in Basic Life Insurance coverage. You may also purchase supplemental life insurance coverage, which you pay for through after tax salary deductions.
The amount of life insurance you need may depend on several factors, including your age, family status and other financial resources. The Group Life Insurance Plan offers you several levels of supplemental life insurance coverage from which to choose, as follows:
  • Standard Life ($50,000)
  • Life 1 (1.5 times your base annual pay)
  • Life 2 (2 times your base annual pay)
The supplemental coverage amounts include the $10,000 of Company-provided Basic coverage.
Your "base annual pay" means your annualized base rate of pay and does not include overtime or any other special compensation. If your base annual pay is not a multiple of $100, your insurance amount will be rounded to the next higher $100.
Coverage for Intermittent Employees
If you are a regular intermittent employee who works on a non-scheduled, part-time basis and you meet all of the Group Life Insurance Plan's eligibility requirements, you will receive life insurance coverage in the amount of $10,000.
If you transfer from a full-time to an intermittent job, you may retain the amount of coverage you had immediately prior to your transfer to intermittent status, or you may decrease your coverage to $10,000.
Effect of an Increase or Decrease in Rate of Pay
The amount of your insurance will automatically go up whenever you receive a pay raise that is other than temporary. The new amount will go into effect when your pay raise becomes effective, unless you are absent from work on that day because of illness or injury. In that case, your increased coverage amount will become effective when you return to work.
There is no reduction in your coverage amount if your pay decreases.