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Life and Accidental Death and
Dismemberment Insurance

Consider your life and accidental death and dismemberment coverage options carefully, as these benefits greatly enhance your financial well-being by providing financial support to those who depend on you.

MainVue Homes purchases life and accidental death and dismemberment (AD&D) insurance for all full-time employees.

Basic Life and AD&D Insurance – Mutual of Omaha

Employee Life Insurance Benefit: $225,000

If you die as the result of an accident, your beneficiary will receive both the life and AD&D benefits. A scheduled benefit is paid for amputation or paralysis of limbs.

DESIGNATE A BENEFICIARY
  • In the event of your death, Mutual of Omaha would pay your Life and/or AD&D policy to your beneficiaries.
  • Designate your beneficiary for your Basic Life and AD&D insurance, as well as any Voluntary Life Insurance. If you have questions or need assistance, please contact your HR department OR Mutual of Omaha at 800-316-2796. You may change this designation at any time.
  • In many cases, you may be automatically designated as the beneficiary on your Spouse and/or Child Life policy; however, this is not guaranteed. Please review your policy details to confirm your beneficiary designation.
Supplemental Life and Accidental Death & Dismemberment Insurance

During Open Enrollment, MainVue Homes provides you with the opportunity to purchase supplemental life insurance.

Employee Spouse Child
Benefit Available Lesser of 5x Annual Earnings or $500,000 Lesser of 100% of Employee Coverage Amount or $250,000 $10,000
Available in increments of: $10,000 $5,000 $1,000
Guaranteed Issue- Life Insurance $100,000 or 5x Annual Earnings, Whichever is Less $25,000 or 100% of Employee Elected Amount, Whichever is Less $10,000 or 100% of employee elected amount, whichever is less
AD&D Benefit: Equal to Life Insurance Election Equal to Life Insurance Election Equal to Life Insurance Election
At age 65, benefit reduces to 65% of original amount At age 70, benefit reduces to 40% of original amount At age 75, benefit reduces to 25% of original amount

Interested in increasing your coverage election?

During Open Enrollment you can increase your existing coverage election by $10,000 not to exceed the plan maximum without providing evidence of insurability. This means no health questionnaire will be required. Coverage increases for spouse and dependent children require underwriting approval.

What is Guarantee Issue?

The guarantee issue amount is the amount of coverage you’re eligible for no matter your health status, this is only available during your initial enrollment period as a new hire or newly benefits eligible employee.

Please note: Coverage requests requiring carrier approval will not become effective until confirmation of approval is received. It’s your responsibility to provide the necessary forms and documentation for the review process directly to the carrier.

Supplemental Life / AD&D Premium Rates

Monthly Supplemental Life and AD&D Rates by Age:

EMPLOYEE RATES PER $1,000 SPOUSE RATES PER $1,000
< 24 $.046 $.046
25 - 39 $.046 $.046
30 - 34 $.053 $.053
35 - 39 $.065 $.065
40 - 44 $.095 $.095
45 - 49 $0.126 $0.126
50 - 54 $0.224 $0.224
55 - 59 $0.341 $0.341
60 - 64 $0.478 $0.478
65 - 69 $0.899 $0.899
70 and over $1.694 $1.694
Child(ren) Life – Eligible to age 26 $0.540
AD&D Rates:
Employee $0.010
Spouse $0.010
Child(ren)- eligible to age 26 $0.010