Employer Paid Life/AD&D
Meissner Mfg. Co., Inc. automatically provides you with Basic Life and Accidental Death & Dismemberment (AD&D) at no cost to you, even if you elect to waive medical and dental coverage.
LIFE INSURANCE BENEFITS |
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| Life Insurance Coverage | A benefit in the amount of 1 times your annual salary to a maximum of $200,000 will be provided to your beneficiary in the event of your passing. |
| Accidental Death & Dismemberment | Accidental Death & Dismemberment (AD&D) is an additional benefit you or your beneficiary will receive in the event that you are dismembered our you pass away due to an accident or dismemberment. This amount equals the amount of life insurance you've elected. |
| Age Reduction Schedule | Your benefits will reduce after you've reached certain ages. You will have a 35% reduction in benefits at age 65, 50% reduction at age 70 and a 60% reduction at age 75+. |
| Beneficiary | The Beneficiary is the person (or people) who receive(s) the death benefit from the insurance carrier in the event of your passing. Please make sure this is kept updated at all times with your employer or HR department. |
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