Life Insurance

The company provides group term life insurance benefits through an insurance carrier at company expense. The life insurance benefit is currently an amount equal to three times an employee’s annual base salary, subject to a maximum of $1,000,000. For the purpose of calculating this benefit, base salary is rounded to the next higher $1,000 if not an even multiple thereof.

Life insurance coverage in the amount of $5,000 for a spouse and $1,000 for each dependent child is included as part of this coverage.

Supplemental Life Insurance is available through payroll deduction. Premiums are based upon amount of coverage and age. The plan provides a guaranteed issue of insurance of twice annual base salary up to $200,000 upon hire.

The company also provides Personal Accident Insurance and Travel Accident Insurance through an insurance carrier at company expense.