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Group Basic Life Insurance
All full-time and part-time, regular team members receive Basic Life Insurance in an amount that
equals your annual compensation to a maximum of $500,000. This benefit is
fully paid by Live!
Casino ∙ Hotel
.
Group Accidental Death & Dismemberment
Insurance
Full-time team members receive Accidental Death and Dismemberment
Insurance, which pays a benefit that varies with the type of loss or
accident. This benefit is
fully paid by Live! Casino ∙ Hotel.
Voluntary Term Li fe
All full-time team members
may elect
to purchase additional life insurance coverage in amounts
equal to 1—5 times annual salary to a maximum of $500,000 for team members and $100,000 for
spouses. A dependent child benefit is also available in increments of $1,000 up to a maximum of
$10,000 for children under the age of 19/26 years depending on dependent student status. The
maximum benefit for children under six months is $500. This benefit is
fully paid by you.
Voluntary Accidental Death & Dismemberment
Full-time team members may purchase additional AD&D insurance in amounts from
$25,000—$500,000 (increments of $25,000). A spouse can purchase up to a maximum of $250,000
not to exceed 40% of team members coverage. If the employee does not have a dependent
child(ren), the spouse is eligible for up to 50% of the employee’s coverage. Covered child(ren) benefit
amount is not to exceed 10% of team members coverage amount. If the employee does not have a
spouse then the child(ren) are eligible for 15% of the team members coverage. The child(ren)
coverage cannot exceed $10,000. The monthly cost per $1,000 of coverage is $0.03 for Employee,
$0.04 for Spouse. This benefit is
fully paid by you.
Important Note:
You should name both primary and contingent beneficiaries. If you have not named one or more beneficiaries, the proceeds pass to
your estate at your death. Proceeds paid to your estate are subject to probate and will incur all of the expenses and delays associated with settling an
estate. But named beneficiaries receive proceeds almost immediately after your death, and probate is bypassed. In addition, proceeds passing to your
estate are subject to the claims of creditors. Most states exempt life insurance proceeds from creditors when there's a named beneficiary.
Employee/Spouse
Age
Employee/Spouse Monthly
Cost per $1,000
Under 25
$0.090
25 to 29
$0.100
30 to 34
$0.112
35 to 39
$0.137
40 to 44
$0.197
45 to 49
$0.296
50 to 54
$0.471
55 to 59
$0.757
60 to 64
$1.161
65 to 69
$1.968
Monthly cost per $1,000
Child(ren)
$0.252