Basic Life and AD&D Insurance Voluntary Life Insurance A life insurance policy is a contract with an insurance Employees have the option to purchase additional life company. In exchange for premium payments, the insurance. insurance company provides a lump-sum payment, Employee Benefit: Increments of $10,000 up to the lesser known as a death benefit, to beneficiaries upon the of 5x your basic annual earnings or $500,000. insured's death. Guaranteed Issue: $100,000 The rider covers the unintentional death or Spouse Benefit: Increments of $5,000 up to the lesser of dismemberment of the insured. Dismemberment $250,000 or 50% of Employee’s amount. includes the loss of, or the loss of use of body parts or Guaranteed Issue: $50,000 functions. The cost of this benefit is shared by ECS and employees Child(ren) Benefit: Increments of $1,000 up to $10,000 with employees paying 10% and ECS paying 90%. Guaranteed Issue: $10,000 Benefit Amount depends on Employee Class. (Children age 6 months to 26 years.)