Life and Accidental Death and Dismemberment (AD&D) insurance, through Mutual of Omaha, provide financial security to you and your family if you become seriously injured or pass away.
Providing economic security for your family if you pass away, become disabled, or experience an injury or illness is a major consideration in personal financial planning. As an employee, you automatically receive Basic Life and AD&D coverage in the amount of 4x your base salary up to a maximum of $250,000. This coverage is provided at no cost to you.
You may choose anyone to be the beneficiary of your Life and AD&D policy in the event of your death or serious injury. Review your beneficiary designation periodically to ensure it reflects your current wishes. You may change your beneficiary anytime at paycom.com.
Supplemental Life and AD&D offer additional coverage at discounted rates. The chart describes the amounts of coverage you can buy for yourself, your spouse, and your child(ren). For rates, please see plan documents.
| Benefit Features | Supplemental Life and AD&D Options* | ||
|---|---|---|---|
| Employee | Spouse | Dependent Child(ren) (up to age 26) |
|
| Coverage Options | $10,000 increments | $5,000 increments | $2,000 |
| Maximum | The lesser of 8x salary or $500,000 | $500,000 (cannot exceed employee coverage) |
$10,000 |
| Guaranteed Issue Amount | $250,000 | $25,000 | $10,000 |
| Guaranteed Issue Period | Within 30 days of benefits eligibility or a qualifying life event | ||
*Evidence of Insurability (EOI) may be required.