Group Term Life Insurance
SHAZAM provides group term life insurance equal to four times your annual base salary, with a maximum of $300,000. An additional amount of up to four times your annual base salary could be paid for a death as the result of a covered accident (up to a maximum of $300,000).
Dependent Life
Dependent life insurance coverage is available for your spouse and eligible children. Coverage is $25,000 for your spouse and $10,000 for each child. Your cost is the same no matter how many children you are covering.
Short Term Disability
SHAZAM offers a short term disability program that pays 60% of your weekly salary up to a
maximum of $1,500 per week for covered disabilities. This benefit may be reduced for taxes depending
on whether you elect to pay the taxes on the monthly premiums or not. This program begins on the first
day of an accident or eighth day of an illness. Maximum coverage is 26 weeks.
Long Term Disability
The Long Term Disability Plan provides 66-2/3% of your monthly salary up to a maximum of $10,000 per month. This benefit may be reduced for taxes depending on whether you elect to pay the taxes on the monthly premiums or not. Benefits begin on the 181st day of a covered accident or illness.
Voluntary Accidental Death and Dismemberment (AD&D)
The voluntary AD&D plan provides coverage for you in the event of the accidental loss of life
or loss of hand/foot/eye. SHAZAM provides $30,000 in employee coverage at no cost. Employees can
elect up to $100,000 in coverage for themselves or for eligible dependents. Employees are
responsible for the cost for coverage above what the company provides. |
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