Group Term Life and Accident Death & Dismemberment (AD&D) Insurance
Protecting your family’s future is no doubt one of your highest priorities. One way to help achieve this goal is through life insurance. Nant provides you with a valuable basic term life insurance plan (at no cost to you) administered by Mutual of Omaha. Benefit eligible associates will receive a benefit amount of two (2) times earnings up to a maximum of $1,000,000 in life insurance. In addition to basic term life insurance, you also get the same amount for Accidental Death & Dismemberment (AD&D). This benefit offers financial protection to you in case of injury or death caused by an accident.
Voluntary Life and Accidental Death & Dismemberment (AD&D) Insurance
You also have the option to purchase additional Term Life and AD&D insurance to supplement your basic benefits. This coverage is also provided through Mutual of Omaha. These benefits are available for both you and your dependents at group rates. Your premiums are calculated based on the age of the associate and the benefit amount elected. Premiums are conveniently deducted through payroll.
|Mutual of Omaha|
|Associate Benefit Option||A choice of one, two, or three times earnings, rounded to the next higher $1,000, subject to a maximum of $1,000,000.|
|Associate Guarantee Issue||You are guaranteed coverage up to the lesser of 3 times earnings or $200,000 if you apply during your initial enrollment period.|
|Spouse Benefit Option||Spousal coverage is available when you, the associate, take coverage. You may purchase coverage in increments of $5,000 up to $50,000, not exceed 100% of associate's benefit.|
|Spouse Guarantee Issue||Your spouse is guaranteed coverage up to $25,000 if you apply during your initial enrollment period.|
|Child Benefit Option||When electing coverage for yourself, you can also elect coverage for your children. This option provides the following: Birth to age 26: $5,000, $10,000 or $15,000.|
|Child Guarantee Issue||No evidence of good health is required.|
|Benefit Reduction Schedule||50% at age 70|
|Both the Group Life and Voluntary Life and Voluntary Accidental Death and Dismemberment include a Conversion and Portability benefit: If you lose coverage due to termination or age, you can convert your Life and AD&D coverage to individual policies.|
Evidence of Insurability (EOI)
Mutual of Omaha – Group Policy Number: GVTL-B4YW – Instructions to Complete Online EOI Form
*Employee Guarantee Issue Amount = 1, 2 or 3 times your salary, up to $200,000
*Spouse Guarantee Issue Amount = 100% of employee’s benefit, up to $25,000
*Children Guarantee Issue Amount = 100% of employee’s benefit up to $15,000
Employees can submit an electronic EOI application using the online eApp system.
1. Proceed to www.mutualofomaha.com/eoi
2. Employees completing EOI will need the following information:
- Date of Hire
- Current Salary
- Coverage Amounts being Requested/Elected