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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.
Identity Theft Restoration
Effective January 1, 2024, MBF is offering a new service under the Basic Life benefit through Prudential to MBF members. An identity theft restoration service, called IDResources provided by ComPsych, is available to you and your eligible dependents at no cost. This service provides identity theft restoration services for those MBF members and their eligible dependents who have experienced identity theft.
IDResources Informational Sheet
Please refer to the Fund Booklet for complete details of coverage and limitations.