Group Term Life and Accidental Death and Dismemberment (AD&D)
AlphaSense’s comprehensive benefits package includes financial protection for you and your family in the event of an accident or death. Group term life and AD&D coverage are provided automatically at no cost to you upon employment.
In the event of your death, the life insurance policy provides a benefit to the beneficiary you designate. If your death is the result of an accident or if an accident leaves you with a covered debilitating injury, you are covered under the AD&D insurance for the same amount.
| Group term life and AD&D | 100% paid by the employer |
|---|---|
| Employee | 2x salary to $1,000,000 |
Age Reduction Schedule
- Ages 65 to 69: Benefit decrease to 65% of original benefit.
- Ages 70+: Benefit decrease to 50%.
Accidental Death and Dismemberment
The group term life coverage includes accidental death and dismemberment coverage. AD&D insurance provides additional coverage in the event of accidental death, loss of limb or eyesight, brain damage, etc. In the event of a covered accident that results in your death, AD&D coverage is in addition to your group term life.
Voluntary Life and AD&D
You have the opportunity to purchase voluntary life and AD&D insurance for yourself, your spouse and/or your dependent children. Your cost for this coverage is based on the amount you elect and your age. You must purchase voluntary life and AD&D insurance for yourself in order to purchase spouse and/or dependent child(ren) coverage. If you do not enroll in this coverage when you were first eligible, you will be subject to medical underwriting.
| Coverage | Available benefit | Guaranteed amount |
|---|---|---|
| Employee | $10,000 to $750,000; employees 70+ capped at $375,000 | $250,000 |
| Spouse | $5,000 to $250,000 (cannot exceed 100% of employee coverage) | $25,000 |
| Dependent child(ren) | $1,000 to $10,000 for dependent children up to age 19 (or age 26 if full-time student) | $10,000 |
| Voluntary life employee rates per $1,000 of coverage | |
|---|---|
| Under 25 | $0.026 |
| 25-29 | $0.027 |
| 30-34 | $0.035 |
| 35-39 | $0.052 |
| 40-44 | $0.075 |
| 45-49 | $0.123 |
| 50-54 | $0.187 |
| 55-59 | $0.270 |
| 60-64 | $0.351 |
| 65-69 | $0.454 |
| 70-74 | $0.832 |
| 75+ | $2.793 |
| Voluntary AD&D employee and spouse rate per $1,000 of coverage |
|---|
| $0.025 |
| Voluntary life child rate per $1,000 of coverage |
|---|
| $0.392 |
Example
If the rate for life insurance is $0.052 per $1,000, and the rate for AD&D insurance is $0.025 per $1,000, and the enrollee elects $20,000 in coverage, the monthly premium would be $1.54.
| Plan rate (determined by age) Coverage per $1,000 |
x | $0.077 20 |
| Monthly premium | $1.54 |