COMMONLY ASKED QUESTIONS ABOUT
GROUP LIFE BENEFITS
When am I eligible?
The first of the month following one year of employment.
How much life insurance do I have?
$50,000 in coverage to the designated beneficiary in the event of death.
The plan also provides $1,000 to the employee's spouse and $500 per child(ren)
from 14 days to 6 months of age and $1,000 from age 6 months to 26 years.
Do I have a required contribution?
No, this benefit is paid 100% by Palmer College of Chiropractic.
How do I enroll?
You will receive enrollment materials approximately one month prior to your eligibility date.
How do I name my beneficiary?
Beneficiary designation is made at the time you complete your enrollment materials.
Can I change my beneficiary, if so how?
You can change your beneficiary at your discretion. Beneficiary
forms are available in the Human Resources office.
Can I take this life insurance with me if I terminate employment with Palmer College of Chiropractic?
You may convert the coverage to an individual policy with the current carrier. Terminating employees receive information regarding this option at the time of termination.
Does this policy have an Accelerated Benefits Rider?
Yes. The Accelerated Benefits Rider will pay a lump sum -
75% of the coverage amount in force to you if you become terminally ill and your life expectancy is 12 months or less. Details are provided in the Group
Term Life Insurance Certificate.