ABB OPTICAL GROUP offers eligible full-time employees' voluntary term life insurance, including an accidental death & dismemberment (AD&D) benefit through Reliance Standard.
Voluntary Employee Coverage
Employees' who enroll in basic term life insurance can also buy additional term life insurance - from 1 to 5 times base annual earnings, up to a maximum optional coverage benefit of $500,000. Medical underwriting will be required for amounts greater than $100,000. You pay the entire cost of optional coverage.
Voluntary Spouse Coverage
Employees' who enroll in basic term life insurance can also buy life insurance coverage for their spouse up to $500,000. Medical underwriting will be required for amounts greater than $30,000. You pay the entire cost of optional coverage.
Voluntary Dependent Coverage
Employees' who enroll in basic term life insurance can also buy life insurance coverage for their dependents. You may purchase a unit of $2,500, $5,000, $7,500 or $10,000 for dependents through the age of 19 (25 if full-time student). A child 14 days to 6 months is eligible for a benefit of $1,000. You pay the entire cost of optional coverage.
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