Your family depends on your income for a comfortable lifestyle and for the resources necessary to make their dreams a reality. Life Insurance ensures your family’s future is financially secure if you’re no longer there to provide for them. VHC provides Term Life Insurance that provides you with one of the foundational pieces to assemble a complete Life Insurance portfolio.
Term Life Insurance pays benefits to your beneficiary if you die. VHC Health pays the premium for this coverage.
When you enroll, it is required for you to name a beneficiary (or beneficiaries) to receive your Life Insurance. You may name anyone you wish, and you may change your designation at any time.
|
Employee Status |
Life/AD&D Benefits |
|---|---|
Full-time employee |
1x annual salary |
Permanent part-time employee |
1/2x annual salary |
OPTIONAL TERM LIFE
You are eligible to buy additional Term Life Insurance for yourself, your spouse, and your children. You may purchase the additional coverage in $10,000 increments up to $500,000. You may also purchase additional AD&D coverage for yourself and your spouse up to $250,000. The coverage amount you elect for your spouse may not exceed 100 percent of your additional life coverage. If you wish to purchase additional Term Life Insurance, or additional Term Life Insurance with AD&D coverage for your children in the amount of $5,000 or $10,000, you must also purchase additional Term Life Insurance and AD&D coverage in the same amount for yourself.
You pay for this optional Term Life Insurance on a pre-tax basis, and you can continue it when you retire or leave the Hospital. You must inform the Benefits Department in Human Resources if you wish to continue this insurance.
Access your plan summary below for the cost of coverage: