Life and AD&D Insurance
It’s important to plan for your family’s financial security in case the unexpected happens. That’s why Green Dot Public Schools provides full-time regular employees with basic life insurance and basic AD&D insurance — at no cost to you.
During Annual Open Enrollment, you also have the option to buy voluntary life and/or supplemental AD&D insurance through Lincoln Financial (first-time users register with code: GreenDot) for yourself and your family through easy payroll deductions.
Basic Life and AD&D
Coverage is automatic; the company pays
Green Dot provides full-time regular employees with basic life and AD&D insurance at no cost to you. Basic life coverage is equal to one times your annual earnings, up to a maximum of $200,000. If you become dismembered or lose any senses as the result of an accident, you will receive all or a portion of the full benefit based on the loss suffered.
Voluntary Life and AD&D
You must enroll; you pay for coverage through before-tax payroll deductions
Full-time regular employees can supplement the basic insurance provided by Green Dot by purchasing additional insurance for yourself and your dependents.
|Voluntary Life and AD&D Coverage Options|
|Note: At age 65, your coverage and your spouse’s/domestic partner’s coverage will decrease to 65% of the benefit amount. At age 70, it will decrease to 50% of the benefit amount.|
|Employee Voluntary Life Monthly Contributions|
|Employee Age||Cost per $10,000 of coverage|
|Spouse/Domestic Partner Voluntary Life|
|$0.049 per $5,000 of coverage|
|Child(ren) Voluntary Life|
|$0.98 for $10,000
|Children under 6 months are limited to $1,000 of coverage.|
|Employee Voluntary AD&D|
|$0.28 per $10,000 of coverage|