How much is Basic Life Insurance?How much Voluntary Life can I buy?Do I have to insure each child separately?
Plan Options: Basic Life and Accidental Death & Dismemberment, Voluntary Life Insurance
Basic Life and Accidental Death & Dismemberment Insurance is offered through UNUM to help protect you and your family in case something bad happens. This coverage is free for employees—Goodwill Industries of Kansas pays for it.
Voluntary Life Insurance lets you buy the life insurance you need to protect your family’s financial future at low group rates. This benefit is optional, and it’s not taken out before taxes.
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Life Insurance |
Basic Life and Accidental Death & Dismemberment (AD&D) Insurance
Goodwill Industries of Kansas provides full-time benefit eligible team members with Basic Life and AD&D Insurance through UNUM. This coverage is entirely company paid and requires no contribution on your part. Make sure your beneficiary is up to date!
Team member (Grade 1-5) Life & AD&D Benefit*: $10,000
Team members (Grade 6+) Life & AD&D Benefit*: 1x Annual Salary up to $150,000
To begin paperwork on these policies, please contact the Director of Payroll and Benefits.
*Reduction schedule applies as follows: 65% at age 65; 42% at age 70 and 27% at age 75.
Voluntary Life Insurance
Goodwill Industries of Kansas provides all full-time benefit eligible team members with the opportunity to enroll themselves and their dependents in a Voluntary Life and Accidental Death and Dismemberment (AD&D) plan through UNUM. Since this is a completely voluntary benefit, team members pay the full premium.
Team member Life Benefit* & AD&D:
5x Annual Earnings up to $500,000 in increments of $10,000
Team member Guaranteed Issue**:
$150,000
Spouse Life Benefit* & AD&D**:
Up to 100% of team member’s benefit
Spouse Guaranteed Issue**:
$25,000
Child Life Benefit
Live birth to 6 Months: $1,000
Child Life Benefit
6 Months to 19 Years (26 Years if unmarried & full-time student): $2,000 up to $10,000 – in increments of $2,000
*Reduction schedule applies.
**Guarantee issue is applicable only at your first offering. Outside of that, Evidence of Insurability will be required.
This information is designed to help you choose a benefit plan for 2024–2025 only. Please refer to the Plan Documents provided by the carrier for information regarding coverage, limitations, and exclusions. If there is a difference between this guide and the Plan Documents, the Plan Documents prevail.
