As an active employee of Johns Hopkins University, you are automatically insured for group term life and accidental death and dismemberment insurance through Securian Life Insurance Co. You also may purchase additional protection for yourself as well as for your spouse, domestic partner, and dependent children, upon hire, when you experience a qualifying life event, or during annual enrollment. Premiums are paid through the convenience of payroll deduction.
Group term life insurance offers a cost-effective way to temporarily bulk up your level of protection during the period of time when an unexpected death would likely have the biggest financial impact on your family.
Savings and any permanent life insurance may be enough to manage expected end-of-life expenses. But when a death occurs during one's working years, those financial resources often are not enough to account for ongoing expenses for which the family is reliant on your paycheck.
The same consideration for end-of-life and ongoing family expenses can be given to the possible need for insuring your spouse or domestic partner. And when it comes to children, this group term life insurance offers a solution for unexpected medical bills, funeral expenses, and the need to take time off from work to grieve.
Accidental death and dismemberment insurance provides additional financial protection if an insured person's death or dismemberment is due to a covered accident, whether it occurs at work or elsewhere.
Death: Double indemnity refers to the fact that in the event of accidental death, this benefit is paid on top of your term life insurance benefit—not in place of it. Your beneficiary would receive both the life and AD&D benefit amounts.
Dismemberment: A percentage of the benefit amount is paid to the insured person if the accident resulted in the loss of a limb, an eye, or hearing, or resulted in partial or full paralysis. Consider, for example, an accident rendering an insured person paraplegic (for which the percentage of benefit paid is 100 percent); there would likely be expenses such as home and vehicle modifications to accommodate a wheelchair.
For more on why group term life insurance may be a critical aspect of your overall financial wellness, and to learn the simple steps of providing evidence of insurability as part of the application process, view a brief video at LifeBenefits.com/videos/term. New employees can take advantage of guaranteed coverage opportunities within 30 days of their hiring.
Coverage options and rates are available online at benefits.jhu.edu.
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