Life Insurance

Basic Life

Comprehensive basic life insurance is offered to employees to help protect their income in an unforeseen event. Howard pays the full cost of Basic Life and AD&D coverage. In the event of the death, your beneficiary will receive payment from your life insurance. The Basic Life coverage is (1x) your annual base pay.  Coverage will be subject to an age reduction schedule.

Employee Supplemental Life

You can buy optional life insurance for yourself, one to five times your annual base salary, up to a $1,000,000 maximum.  Statement of Health (SOH - medical exam) is required for amounts lesser than three (3x) times your base annual earnings or $750,000.  Coverage will be subject to an age reduction schedule.

Dependent Supplemental Life

Spouse Life – You can buy optional life insurance for your spouse. Your spouse life may not exceed 50% of your basic plus optional employee life insurance coverage. You may elect a flat $25,000.  Statement of Health (SOH - medical exam) is required.

Dependent Life – You can buy optional life insurance for your children. For children between the ages of 15 days to 6 months, the flat benefit amount is $500. For children above age 6 months, the flat benefit amount is $10,000 and covers all unmarried children up to age 26.

Adding Beneficiaries