LIFE INSURANCE
Basic Life and AD&D
Administered by Securian Minnesota Life
Life insurance is an important part of your financial security, providing peace of mind that your loved ones will be protected in the event of an unexpected loss. It helps cover expenses such as funeral costs, outstanding debts, and everyday living needs, ensuring your family’s financial stability during a difficult time. NEOMED is committed to supporting you and your family by offering Basic Life Insurance and Accidental Death & Dismemberment (AD&D) coverage at no cost to you.
Coverage Details
Benefit amount: $50,000 or 2x your annual salary, up to a maximum of $100,000.
AD&D Benefit: Pays an additional amount if death occurs due to an accident.
This valuable benefit provides essential protection and peace of mind—at no cost to you.
Voluntary Supplemental Life Insurance
Administered by Securian Minnesota Life
Life insurance needs vary from person to person, and while NEOMED provides basic coverage at no cost, you may want additional protection to ensure your family’s financial security. Voluntary Supplemental Life Insurance gives you the flexibility to increase your coverage for yourself and your loved ones. This benefit allows you to plan for unexpected events and provide peace of mind knowing your family will have financial support when they need it most.
Coverage Options
Employees: Elect up to $750,000 in $10,000 increments
- Guarantee Issue Amount: $250,000
Spouse: Elect up to $250,000 in $10,000 increments
- Guarantee Issue Amount: $50,000
- Evidence of Insurability (EOI) required for any amount up to $250,000
- Rates are based on the employee’s age
Child(ren): $10,000 (coverage available until age 26)
Important: Please be sure to update your beneficiary information to ensure your benefits are directed according to your wishes.