2025 Benefits Guide- updated 10-20 - Flipbook - Page 22
Voluntary Life / AD&D
To supplement VELCO’s employer-paid life insurance employees may purchase additional
coverage through UNUM. With voluntary life and/or AD&D insurance you are responsible for
paying the full cost of coverage through payroll deductions. You can purchase coverage for
yourself, your spouse, your domestic/civil union partner, and your children.
This policy also offers a "Living Benefit"; if you are diagnosed with a terminal illness with less
than 12 months to live, you can request 50% of your life insurance benefit to be paid while you are
still living. Life Benefits paid reduce the amount of the benefit payable at death.
In certain circumstances your application for coverage is subject to Evidence of Insurability (EOI):
• If you newly enroll during annual Open Enrollment
• If you increase your coverage beyond the Guaranteed Issue Amount
If EOI is applicable an electronic link will be sent to you. Your completed EOI form is
submitted directly to UNUM. Coverage will not be in effect until UNUM approves your
application. Rates are determined by your age and the amount of coverage you elect. Please
click here, for information on rates.
Voluntary Life and AD&D
Coverage Type
Benefits Amount- Life
Benefits Amount- AD&D
Employee
Up to 5 times base salary in
increments of $10,000, not to
exceed $500,000.
Up to 5 times based salary in
increments of $10,000, not to
exceed $500,000.
Spouse/Partner
Up to 100% of the employee’s
coverage amount in increments of
$5,000.
Up to 100% of the employee’s
coverage amount in increments of
$5,000.
Child
Up to $10,000 of coverage in
$2,000 increments. One policy
covers all of your children until
their 26th birthday regardless of
their student status.
Up to $10,000 of coverage
in$2,000
increments.
One
policy covers all of your
children
until their
26th
birthday
regardless of their
student status.
