The Management Benefits Fund
Basic Life and AD&D Insurance
Basic Life Insurance coverage is provided at no cost to members. Dependents are not eligible to receive this benefit.
- Active employees under age 65 are covered for 1 times (1X) annual salary, subject to a coverage amount minimum of $15,000 and maximum of $50,000.
- Active employees ages 65-69 are covered for 66 2/3% of their annual salary, subject to a coverage amount minimum of $10,000 and maximum of $34,000.
- Active employees age 70 and over are covered for 50% of their annual salary, subject to a coverage amount minimum of $7,500 and maximum of $25,000.
- Retired members are covered for $5,000, regardless of age.
Active members are also provided with Accidental Death & Dismemberment Insurance coverage in the same amount as their Basic Life Insurance.
Retired members and dependents are not eligible to receive this benefit.
Please refer to the Fund Booklet for complete details of coverage and limitations.
Download this section of the Fund Booklet (PDF)
Read the Basic Life and AD&D Insurance FAQ
Read the Management Benefits Voice Newsletter