Life and AD&D Insurance
Accidental Death & Dismemberment
Lucky Strike Entertainment cares deeply about the financial security of our Associates and their families. The company offers voluntary Life and Accidental Death & Dismemberment (AD&D) insurance.
Life Insurance
Lucky Strike Entertainment provides the option to enroll into voluntary Life insurance through The Standard. Life insurance benefits will be paid to your designated beneficiary in the event of death while covered under the plan. Evidence of Insurability and underwriting may be required for enrollment.
| Voluntary Life Insurance (Associate Paid; Post-Tax) |
||
|---|---|---|
| #colspan# | ||
| Associate |
Coverage Amount: $20,000, $50,000, $100,000 or $200,000 Guarantee Issue Amount: $200,000 | |
| Spouse |
Coverage Amount: $10,000 (Spouse Coverage terminates at age 70) | |
| Child |
Coverage Amount: $4,000 (Child Coverage terminates at age 26) | |
| Voluntary AD&D Insurance (Associate Paid; Post-Tax) |
||
| Associate |
Coverage Amount: $20,000, $50,000, $100,000 or $200,000 | |
| Child Only |
Coverage Amount: 15% of Associate’s Coverage Amount | |
| Associate + Spouse |
Coverage Amount: 50% of Associate's Coverage Amount for Spouse | |
| Family |
Coverage Amount for Spouse: 40% of Associate’s Coverage Amount Coverage Amount for Child: 10% of Associate’s Coverage Amount | |
Why Do I Need Life Insurance?
Ask yourself this: In the event of my death, how would my family …
- Pay final expenses?
- Pay off debt?
- Pay for daily living expenses?
- Replace Your Income?
- Maintain financial stability?
Voluntary AD&D
Voluntary Life
Common Life Insurance Terms
- Accidental Death & Dismemberment Insurance (AD&D): A benefit that is paid if the covered person loses their sight, a limb or their life as the result of an accident.
- Age Reductions: Most insurance policies reduce your life insurance benefit as you age.
- Beneficiary: The person or party named by the owner of a life insurance policy to receive the policy benefit.
- Contingent Beneficiary: The party designated to receive proceeds of a life insurance policy following the insured’s death if the primary beneficiary predeceased the insured.
- Conversion: If you ever leave employment, you may be able to convert the group policy into an individually owned life insurance policy.
- Coverage Amount: Value of life insurance.
- Portable: If you ever leave employment, you may be able to port the life insurance coverage to a new plan.
- Premiums: Amount paid to the insurance company to buy a policy and keep it in force.