Accidental Death and Dismemberment (AD&D) Insurance
This plan provides protection for all benefits-eligible faculty and staff if you, your spouse, or your dependent children (up to age 26 and unmarried) die or are dismembered as a result of an accident. The plan provides full coverage 24 hours-a-day, 365 days-a-year. You may purchase one of four coverage amounts for you and/or your family:
If you choose coverage for yourself, your beneficiary will receive 100% of this coverage if you should die in an accident. If you are dismembered in an accident, you will receive a percentage of your benefit amount. If you choose coverage for your family, the chart below shows your family’s death benefit amounts. Your spouse is eligible until age 70. A Legally Domiciled Adult (LDA) is not eligible.
|Accidental Death and Dismemberment Insurance (AD&D)|
|If you cover your …||The death beneﬁt amount paid would be …|
|Spouse only||50% of your benefit for spouse up to a maximum of $150,000|
|Child(ren) only||20% of your benefit up to a maximum of $30,000 per child|
|Spouse and Child(ren)||40% of your benefit for your spouse up to a maximum of $150,000 and 10% of your benefit per child|
Elective Termination of Life and AD&D Insurance
You have the option to terminate your life insurance election(s), such as Employee Supplemental Life, Dependent Spouse Life, Child Life, and AD&D, typically during the annual Benefits Open Enrollment period. If you choose to re-elect your life insurance, this can be done only during a Benefits Open Enrollment period or if you experience a qualifying event. Loyola’s life insurance carrier will request that you complete its Evidence of Insurability form. Your life insurance (term life) ends on the last day worked (refer to Continuation of Life Insurance).