Life & Death Insurance

Basic Life and AD&D

Life insurance pays a lump-sum benefit to your beneficiary(ies) to help meet expenses in the event of your death. Accidental Death & Dismemberment (AD&D) insurance pays a benefit if you die or suffer certain serious injuries as the result of a covered accident. In the case of a covered accidental injury (e.g., loss of sight, loss of a limb), the benefit you receive is a percentage of your total AD&D coverage based on the severity of the accidental injury.

This summary is not intended as a guarantee of benefits. If there is ever a discrepancy with what is shown here and the summary of benefits and coverage from the carrier, the carrier documents will govern. Contact the carrier to verify benefits before seeking services.

Basic Life and AD&D Insurance – For You
Coverage LevelCoverage AmountEvidence of Insurability/ Proof of Good Health
Basic Life and AD&DFranklinCovey automatically provides life insurance for you in an amount equal to $50,000. Coverage is automatic; you do not need to enroll.None

Voluntary Life and AD&D For You and Your Dependents

You may choose to purchase additional life insurance coverage for yourself and your dependents at affordable group rates. Rates are based on age and the coverage level chosen.

Hidden Accordion
For You
Employee coverage is available in $10,000 increments up to $500,000 not to exceed 7 times your annual earnings –Guarantee Issue $200,000 at initial opportunity to enroll, thereafter Evidence of Insurability will be required
For Your Spouse

Spouse coverage is available in $10,000 increments up to 100% of employee coverage; not to exceed $500,000 -Guarantee Issue $50,000 at initial opportunity to enroll, thereafter Evidence of Insurability will be required

For Your Child(ren)
Child(ren) live birth to 26 years will have a flat amount of coverage at $10,000. Cannot exceed employee coverage.
Guaranteed Issue and Evidence of Insurability
Employees and spouses who elect Voluntary Life and AD&D coverage when they are first eligible can elect up to the Guaranteed Issue (GI) amount without Evidence of Insurability (EOI). If you elect more than $20,000 in coverage for yourself, you’ll need to provide Evidence of Insurability before the amount over GI becomes effective.


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