Basic Term Life Insurance
MCSD provides Basic Term Life Insurance to all benefit-eligible employees through The Hartford and pays 100% of the premium based on plan limits listed below. Employee Basic Term Life Insurance is subject to age reductions. Benefit amounts reduce by 35% of the original amount at age 65 and a reduction of 50% of the original amount at age 70. If employee becomes totally disabled while insured and is under the age of 60, the employee may be eligible for a waiver of premium. Further information on this can be found by calling the Risk & Employee Benefits Department.
- All active Class non-administrative employees are covered for a benefit amount of $35,000.
- All active administrative employees are covered for a benefit amount of two (2) times their annual salary rounded to the next higher $1,000 up to a maximum of $75,000. Administrative employees include confidential secretaries, extended day managers, food service managers, and plant operators.
Accidental Death & Dismemberment Insurance
If employee has Basic Term Life Insurance, MCSD provides at no cost to employee, Accidental Death & Dismemberment (AD&D) Insurance. The AD&D benefit pays in addition to the Basic Term Life Insurance benefit when death occurs as a result of an accident. The AD&D benefit amount equals the Basic Term Life Insurance amount. For further information contact the Risk & Employee Benefits Department.
- All employees who are covered under the Basic Term Life Insurance policy with The Hartford are also covered for Accidental Death & Dismemberment Insurance (AD&D). If death results from an accident, the designated beneficiary will receive an additional payment equal to the Basic Term Life Insurance benefit amount. For example, if an employee dies as a result of a car accident, the beneficiary receives a total of $70,000 ($35,000 Life Insurance plus $35,000 AD&D Insurance).
- In addition to the Accidental Death benefit above, AD&D Insurance also provides partial payment to the insured for loss of certain limbs or paralysis which results from an accident.
Supplemental Employee Term Life Insurance
Benefit-eligible employees may elect to purchase Supplemental Employee Term Life Insurance coverage. Employee must have Basic Term Life Insurance to purchase Supplemental Employee Life Insurance. The Supplemental Employee Life Insurance premium rates are based on the amount of coverage employee elects.
- Employee may elect coverage in increments of $10,000 up to a maximum of $200,000.
- New Hire Employee can purchase Supplemental Employee Life Insurance without having to go through Medical Underwriting, also known as Evidence of Insurability (EOI), up to the guaranteed issue amount of $100,000.
- Existing Employee: New enrollment to add Supplemental Employee Life Insurance or increase Supplemental Employee Life Insurance may require Evidence of Insurability (EOI) for amounts over $10,000
Supplemental Dependent Life Insurance
MCSD also offers a Supplemental Dependent Life Insurance rider which is a “family unit” policy. The Supplemental Dependent Life Insurance rate is the same regardless of how many children the employee covers.
- The Supplemental Dependent Life Insurance amount is payable to the employee, as the beneficiary.
- The policy covers an employee's legal spouse, if married and not a MCSD employee, and any unmarried dependent children under the age of 30.
Please Note: If both spouses are insured as employees, eligible dependent children may be insured as dependents of only one (1) employee under the Dependent Life Insurance. (Divorced parents does not change this restriction).
- The Supplemental Dependent Life Insurance benefit is $50,000 for employee's spouse, $1,000 for dependent children ages 14 days to six (6) months and $5,000 for dependent children over six (6) months of age.