Basic Life Insurance / Accidental Death & Dismemberment (AD&D) Insurance

All active, full-time employees working at least 30 hours per week are eligible for Basic Life and Accidental Death & Dismemberment (AD&D) insurance. Life insurance coverage provides important financial protection for your beneficiaries in the event of your death. AD&D insurance provides additional financial protection by paying a benefit upon death or serious injury due to a covered accident. The basic life insurance benefit amount is $50,000. The AD&D insurance benefit amount is equivalent to your life benefit amount. Inserso covers the cost of this benefit.

Coverage Tier100% Paid by the Employer
Basic Life
Employee		$50,000
AD&D
Employee		$50,000

  • Age 65 to 69: Benefit decrease to 65% of original benefit
  • Age 70+: Benefit decrease to 50% of the original benefit

Some Helpful Insurance Terms:

Imputed Income

Federal regulations require payment of income and Social Security taxes on the value of the life insurance premiums in excess of $50,000 when paid for by your employer. This value is known as imputed income. Contact your tax professional for information regarding these tax consequences if you have questions or concerns.

Age Reduction

The group term basic life and AD&D insurance coverage are subject to a reduction in benefit amount as you age.

Voluntary Life / AD&D

All active, full-time employees working at least 30 hours per week have the option to purchase additional life insurance and AD&D coverage as a bundle for themselves, their spouse/domestic partner and/or dependent child(ren). Employees are responsible for the cost of this benefit.

The Guaranteed Issue (GI) amount is the amount of coverage you may elect without showing proof of good health. For 2024/2025, Guardian is allowing all employees to enroll in coverage up to the guaranteed issue (GI) amount without completing Evidence of Insurability (EOI). For the 2024-2025 Open Enrollment, this is your one-time opportunity to enroll in the Voluntary Life/AD&D GI amount without having to complete EOI. If you wish to enroll later, or wish to increase your election at a later time, you will need to complete EOI.

Voluntary Life Rates

  • For future enrollments, existing employees who are enrolled can increase their coverage amount up to an additional $50,000, without requiring EOI, provided the increased elected amount is less than the GI. Any elected amount over the GI amount will require EOI.

If you are a new hire and are electing benefits for the first time within your 30-day new hire enrollment period, you can elect up to the Guaranteed Issue (GI) amount without completing EOI. If you decline to enroll during your new hire enrollment period, and then choose to enroll at a later date, you will be required to complete EOI for any amount selected.

Amount You May ElectMaximum Amount You May ElectGuaranteed Issue (GI) Amount
For yourselfIncrements of $10,000$500,000 $200,000
For your spouse/domestic partnerIncrements of $5,000$200,000 (Not to exceed 100% of employee's elected amount)$30,000
For your child(ren)*$10,000$10,000 (Not to exceed 100% of employee's elected amount)$10,000

Your cost for Voluntary Life coverage is based on the amount of coverage you elect, as well as your age. Rates for both employee and spouse/domestic partner coverage are based on the employee’s age as of September 1 of each year. The cost of this coverage is deducted from your pay through post-tax payroll contributions (24 pay periods). Information regarding the cost calculation for your elected benefit is below.

Employee Rates per $1,000:Spouse/Domestic Partner Rates per $1,000:
Under 25$0.074$0.074
25-29$0.105$0.105
30-34$0.105$0.105
35-39$0.124$0.124
40-44$0.169$0.169
45-49$0.245$0.245
50-54$0.377$0.377
55-59$0.595$0.595
60-64$0.901$0.901
65-69$1.514$1.514
70+$2.850Not Applicable
Child Life/AD&D per $1,000$0.200

Short / Long-Term Disability Plans

Inserso offers two company-paid disability plans by Transamerica to provide financial assistance in case you become disabled or unable to work.

All active, full -time employees working at least 30 hours per week are eligible for Short-Term Disability (STD) coverage. STD coverage is designed to provide income replacement if you become disabled and are unable to work for more than 7 days. Benefits are paid up to a maximum of 12 weeks.

Short-Term Disability (STD)Benefit premium 100% paid by Inserso
Weekly benefit amount60% up to $1,000
Benefits durationUp to a maximum of 12 weeks
Benefits beginAfter 7 consecutive days of disability

All active, full -time employees working at least 30 hours per week are eligible for Long-Term Disability (LTD) coverage, LTD coverage is designed to provide income replacement if you become disabled and are unable to work. Benefits are paid until you are no longer disabled or reach Social Security Normal Retirement Age (SSNRA).

Long-Term Disability (LTD)Benefit premium 100% paid by Inserso
Benefit amount60% up to $5,000
Benefits durationUntil you are no longer disabled or reach SSNRA
Benefits beginAfter 90th day of disability

Coordination of disability benefits

Your benefit may be reduced if you receive disability benefits from retirement, Social Security, workers’ compensation, state disability insurance, no-fault benefits and return-to-work earnings. Refer to your certificate of coverage for more details.

Have a question?

Send your questions to HR@inserso.com and someone from our Human Resources team can help.
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