Do you have a family or others who depend on you for support? Then, for you, life insurance is not a luxury...it is a necessity.
To help safeguard your family's future, The Sound Partnership offers the following life insurance coverage.
Basic Life Insurance. This plan will pay a $25,000 benefit to your beneficiary if you die while insured. Cover is automatic for eligible employees. The Sound Partnership pays the full monthly cost of your Basic Life coverage. There is no cost to you.
Optional Life Insurance. This optional plan allows you to purchase additional life insurance for yourself in coverage levels 1, 2, 3, 4, or 5 times annual earnings up to $500,000. If you elect to purchase additional life insurance, you will pay a monthly cost through payroll deduction. Your cost depends on your age and the coverage amount you elect. May require Evidence of Good Health.*
Dependent Life Insurance. This optional plan allows you to buy coverage for your spouse/domestic partner equal to $12,500 (50% of your Basic Life amount) and $5,000 for each of your children. If you elect to purchase this plan, you will pay a monthly cost through payroll deduction. For spouse/domestic partners coverage, your cost is based on your current age. For children's coverage, you pay $1.00 per month no matter how many eligible children you have. May require Evidence of Good Health.*
*Evidence of Good Health: A health questionnaire, doctor's statement or physical examination that my be required before the insurance company will approve your elected Optional coverage or life insurance for your dependents.