Life Insurance
MSC Services provides eligible employees with Group Basic Life and AD&D and offers Voluntary Life Insurance and AD&D through Unum.
Basic Life Insurance
MSC Services provides eligible employees with a basic life and accidental death and dismemberment (AD&D) insurance policy—at no cost to you.
Don't forget to designate a beneficiary in Paycom!
Basic Life Benefits
MSC Services provides full-time employees with employer paid group life and accidental death and dismemberment (AD&D) coverage through Unum.
Please contact the Human Resources Department to confirm your Life & AD&D amount.
Please remember to keep your beneficiary information current. Should you have a change in beneficiaries please contact the Human Resources Department to update your beneficiary information.
Voluntary Life Insurance
Benefit eligible employees are offered voluntary life insurance administered through Unum that each employee may purchase in addition to the Group Basic Life benefit provided. This benefit provides a lump-sum cash payment to a beneficiary upon the death of the insured.
This benefit provides a lump-sum cash payment to a beneficiary upon the death of the insured.
Employees must be enrolled in order to elect coverage for a spouse and/or dependents.
If you're considering electing Voluntary Life, please keep the following in mind:
Guaranteed Issue (GI) - Initial Enrollment Opportunity Only.
- Employee: Up to $200,000
- Spouse: Up to $50,000
- Child: Maximum allowed for dependent coverage is $20,000
Maximum Amount
- Employee: Up to 7x annual earnings to a maximum of $500,000
- Spouse: Not to exceed $250,000 or 100% of employee coverage
- Child: Not to exceed $20,000
Increments
- Employee: $10,000 increments
- Spouse: $5,000 increments
- Child: $1,000 increments
Other Important Notes
- The maximum benefit for children from live birth to 14 days is $1,000. The maximum benefit for children 14 days to 6 months is $2,000
- Any employee, spouse and child who enrolls during their initial eligibility period can increase coverage up to the guaranteed issue amount at any future annual re-enrollment without answering any medical questions
- If you waive life insurance during this open enrollment and you decide later through a Qualifying Event to elect, you must fill out an EOI (Evidence of Insurability) form
- Employees, spouses and children can elect different Life and AD&D amounts. This is, Life and AD&D benefits do not have to match, giving enrollees the flexibility to customize each benefit to meet their individual needs
- The voluntary life benefit is portable, allowing insured employees and their dependents to elect portable coverage, at group rates, if the employee terminates employment, reduces hours or retires from the MSC Services. Employees and their dependents are not eligible for portable coverage if they have an injury or sickness
Voluntary Accident Death & Dismemberment (AD&D)
Accidental Death & Dismemberment (AD&D) insurance through Unum is included with your Voluntary Life Insurance enrollment and pays a benefit if a covered member passes from a qualified accident or survives an accident but has certain serious injuries. The AD&D benefit is equal to the Voluntary Life Insurance amount.
This coverage pays a separate benefit from your Voluntary Life coverage if a covered member passes from a qualified accident or survives an accident but has certain serious injuries and is equal to the Voluntary Life Insurance amount.
AD&D coverage can be purchased according to the same increments and spouse and dependent parameters as set above in the Voluntary Life Coverage summary.
Employees must be enrolled in order to elect coverage for a spouse and/or dependents.
Voluntary AD&D benefit elections do not have to mirror the same elected amount as the Voluntary Term Life benefit.
Increments
- Employee: $10,000 increments
- Spouse: $5,000 increments
- Child: $2,000 increments
Maximum Amount
- Employee: Up to 5x annual earnings to a maximum of $500,000
- Spouse: Not to exceed $250,000 or 100% of employee coverage
- Child: Not to exceed $20,000