Life and Disability
Life Insurance - AD&D Insurance - Disability Plans
Lake County School District provides life insurance and accidental death and dismemberment (AD&D) coverage in the amount of your salary up to $250,000 at no cost to you through SunLife. Make sure you designate a beneficiary who will receive your life insurance payment if you pass away while covered under this policy.
To be eligible for insurance, a person must be a member of an Eligible Class. The person must also complete a period of continuous service (Service Requirement) with the policyholder.
Eligible Class: Each full-time employee of the policyholder or an associated company, who is at active work , and who is working in the United States of America, as identified on the policyholder’s or our records, except any temporary or seasonal worker.
Note: See plan document for age reduction schedule.
Life Insurance Supplemental
To supplement the life insurance coverage provided by Lake County School Board, you have the option to purchase additional term life insurance for
- Child(ren) up to age 26
Your cost depends on your age and coverage level. Rates are reflected in your benefit enrollment system. You may also add accidental death and dismemberment (AD&D) coverage equal to your life insurance amount at enrollment for a small additional cost. You must cover yourself to purchase coverage for your dependents.
Evidence of Insurability may be required
Accidental Death & Dismemberment
AD&D (Accidental Death & Dismemberment) insurance, is for the same amount as the life insurance policy it's attached to.
AD&D coverage can pay a benefit in one of two ways:
- If your death is caused due to an accident, the AD&D benefit pays in addition to your life insurance. This is sometimes called a “double indemnity” because your beneficiary receives both the life insurance amount and the AD&D amount.
- If, as the result of an accident, you either lose a covered body part (such as a limb) or lose the function of a covered body part, you may receive a percentage of the total AD&D benefit depending on the functions that have been lost.
Disability Plan Options
Disability Insurance Matters. How long can you pay the bills without an income? A few weeks? Maybe a month? What happens if you get sick or pregnant or have an accident and can’t work? How will the rent or mortgage get paid?
Do you have a rainy day fund? More than half of Americans have less than $1,000 in savings. What would you do if your income stopped because you couldn’t work?
Our disability insurance options through SunLife are designed to fill the financial gap that happens when you are unable to work. Your cost for coverage will be available at enrollment.