Group Life And AD&D Insurance
Momentive Software provides all full-time employees with $50,000 in Base Life and Accidental Death & Dismemberment (AD&D) Insurance. This coverage is provided at no cost to you.
Employees may also elect additional Voluntary Life and AD&D insurance on themselves, their spouse, and their dependent children.
Because of the change to Lincoln Financial, employees have the opportunity to elect Voluntary Life coverage up to the Guaranteed Issue limit (not to exceed 5x salary), with no medical underwriting required! If you waive Voluntary Life coverage during this enrollment and wish to elect this benefit in the future, medical underwriting will be required and coverage may be denied.
Voluntary Employee Paid Life and AD&D Insurance
Employees may also purchase additional life and AD&D insurance through Lincoln Financial. This coverage is available for employees, their spouse and dependent children.
Employees may purchase coverage in increments of $10,000 up to a maximum of $500,000, not to exceed 5 times your annual salary. Spouses may be covered up to 100% of the employee coverage amount. Child life coverage of $10,000 is also available. Coverage must be elected on the employee to elect coverage on your spouse or children. AD&D provides an additional death benefit equal to the amount of coverage elected for an accidental death.
During this initial enrollment with Lincoln, you may elect up to $250,000 in coverage on yourself, up to $50,000 on your spouse, and $10,000 on dependent children on a guaranteed issue basis. This means no medical underwriting is required, and coverage cannot be denied, regardless of your medical history.
Employees who waive coverage during their initial enrollment but wish to enroll at a later time will be required to answer medical questions, and Lincoln may decline to provide coverage.
Please use the calculator below to view bi-weekly premiums for employee and spouse Voluntary Life and AD&D coverage.
