Supporting Our Team Members With Life Insurance

Supporting our team members and their families is at the heart of what we do. After all, “We are the ‘they,’” so our team members victories are our victories and their struggles are our struggles.

But in the event of a major loss, a little extra support can go a long way. Every family should have a plan for the worst-case scenario and our benefits are here to help. We’re proud to offer life insurance options to suit each team member’s needs, including a whole new life insurance policy through MassMutual.

With multiple plans available, our team members will only pay for what they need while protecting their family’s financial future.

Here are the different plans available:

Team members automatically receive both a basic life and Accidental Death and Dismemberment (AD&D) insurance policy of $50,000 each at no cost! Keep in mind: There is a reduction of benefit, starting at age 70 to 65% of policy coverage and the policy coverage further reduces to 50% at age 75 and up. 

For those seeking additional insurance coverage above and beyond what the company provides, we offer enhanced term life insurance.  Select optional policies for team members (up to $750,000), their spouse or domestic partner (up to $150,000) and their child(ren) ($10,000) for a low cost per pay period. Keep in mind: There is a reduction of benefit, starting at age 70 to 65% of policy coverage and the coverage further reduces to 50% at age 75 and up. 

Whole life insurance is a form of permanent life insurance, which remains active until the insured person passes away, stops paying premiums or surrenders the policy. Team members can select up to a $250,000 policy for themselves (maximum, depending on enrollment approval), or select a $25,000 policy for their spouse, domestic partner or child(ren). This is a great option for those looking for permanent coverage. 

Here’s a visual breakdown to compare these plans:

As the world around us changes, so do we. We are constantly evolving our plan offerings to ensure our team members have access to tools and resources that can positively impact their overall health and well-being. This new benefit is yet another way we support our team members so their families can stay healthy and safe.