The A&M System pays the cost of Basic Life/Basic Accidental Death and Dismemberment (AD&D) coverage (if you enroll in a System health plan) or Alternate Basic Life coverage (if you don’t enroll in a System health plan but certify that you have other health coverage).
Basic Life/Basic AD&D: When you enroll in a System health plan, you receive $7,500 of Basic Life/Basic AD&D coverage. If you do not enroll in a System health plan and do not certify that you have other health coverage, you may purchase this coverage. Your beneficiary will receive $7,500 if you die and an additional $5,000 if you die as the result of an accident. Basic Life/Basic AD&D also provides $5,000 in life insurance on your eligible dependent children, but not your spouse.
Alternate Basic Life: If you do not enroll in A&M System health coverage but certify that you have other health coverage, you may purchase Alternate Basic Life coverage. Alternate Basic Life provides life coverage of $50,000, and $5,000 in AD&D coverage.
If you are a retiree or you are an employee transferring your Optional Life coverage to Alternate Basic Life coverage, your Alternate Basic Life coverage amount cannot exceed the amount of Optional Life coverage you had immediately before enrolling in Alternate Basic Life unless you provide evidence of insurability.
Accelerated Death Benefit: If you have Basic Life coverage, you are eligible for Accelerated Death Benefit if a doctor certifies that you have less than 24 months to live. You may apply for immediate payment of up to 50% of your total life amount not to exceed $1,000,000. The Accelerated Death Benefit will be paid to you in a lump sum, and your beneficiary will receive the remaining benefit after your death.
Naming a Beneficiary: You must name one or more beneficiaries to receive life insurance benefits if you die. You may also name one or more alternate beneficiaries to receive your benefit if your beneficiary(s) die at the same time as or before you. You may change your beneficiary(s) at any time.
Waiver of Premium: If you become disabled, your Basic Life premium may be paid by the A&M System up to age 65. To qualify, you must be actively employed, younger than 60, and able to submit proof of total and permanent disability.