COMPANY PAID BASIC LIFE / AD&D

Basic Life insurance is paid for by nbkc bank, and the amount is based on the classifications below:

Mortgage Loan Officers/Originators, Loan Originator Managers
Salaried Managers and Officers (excluding LO)
Employees
$75,0003x annual salary up to a maximum of $500,0002x annual salary up to $500,000

 

Basic Accidental Death & Dismemberment (AD&D) insurance is also paid for by nbkc bank, and the amount is equal to your Basic Life coverage amount. Basic AD&D pays a benefit for loss of life or other injuries resulting from a covered accident.

VOLUNTARY LIFE / AD&D

Additional Life and AD&D coverage may be purchased in $10,000 increments up to 7 times your basic annual earnings, not to exceed $500,000. Evidence of Insurability (EOI) is required if you elect an amount over $200,000. If you do not enroll during your new hire enrollment period, you will be required to complete EOI for any amount of coverage elected in the future.

Spouse Life/AD&D Insurance

Spouse coverage may be purchased in increments of $5,000 up to $250,000 or 50% of your elected coverage, whichever is less. EOI will be required for amounts greater than $50,000.

Monthly Employee/Spouse Rates
Age RangeMonthly Rate/$1,000
O-240.045
Ages 25-290.054
Ages 30-340.072
Ages 35-390.081
Ages 40-440.090
Ages 45-490.135
Ages 50-540.207
Ages 55-590.378
Ages 60-640.594
Ages 65-691.143
Ages 70+1.853
Employee AD&D1.853
Spouse AD&D0.020

Child Life/AD&D Insurance

Child coverage may be purchased in $2,500 increments up to $10,000 or 50% of your elected coverage, whichever is less. You may purchase coverage for your children age 14 days to 26 years. Note that when you choose to cover your children, all of your eligible children are covered. Your cost remains the same regardless of how many children are covered.

Monthly Child(ren) Rates
Age RangeMonthly Rate/$1,000
14 days-26 years0.085
Child AD&D0.010

Beneficiary

When you enroll in the life insurance plan, you must name a beneficiary – the person(s) who receive benefits under the plan upon your death.

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