Life Insurance and Accidental Death and Dismemberment
Protection for Your Entire Family
TeamCare offers some participants and their families Life Insurance and Accidental Death and Dismemberment benefits. Please refer to your Plan Benefit Profile to determine whether your Plan provides Life Insurance and AD&D Benefits.
The Life Insurance Benefit for participants is payable to your named beneficiary in the event of your death, or if none, in the beneficiary order specified by the Plan. The Life Insurance Benefit for your spouse and/or your dependent children is payable to you.
How Do You File for Life Insurance Benefits?
- For benefits to be payable, you must be covered by the Plan on your date of death or die within a 31-day grace period following your last day of coverage.
- Your dependent children are eligible from birth through age 25. Once your children reach age 26, they are no longer eligible for this benefit.
- Claims must be filed within three years of the date of loss.
This benefit is paid, in addition to the Life Insurance, to your named beneficiary, or if none, in the beneficiary order specified by the Plan. Your beneficiary will receive the Accidental Death Benefit if you suffer a bodily injury or die because of an accident that occurs when you’re covered under TeamCare.
Accidental Dismemberment is a loss of sight or limb due to an accidental bodily injury. Dismemberment caused by or contributed to by an illness or disease is not covered under this benefit.
Total and Permanent Disability
Total and Permanent Disability covers the participant only if you suffer a total and permanent disability before reaching age 60 and while you’re a covered participant. This benefit does not cover your spouse or dependents.
Waiver of Premium
If you become totally disabled before reaching age 50, you’ll receive your Total and Permanent Disability Benefit in monthly installments over a five-year period. If you become totally disabled between the ages 50-59, you’ll maintain an amount of Life Insurance without further contributions made on your behalf. This is called a "Waiver of Premium."
If you become totally disabled on or after your 60th birthday, you receive no benefit, although you can maintain your life insurance and medical coverage for a limited period by making self-payments.