Life, Accidental Death and Dismemberment (AD&D), and Disability insurance all provide crucial financial security to you and your family if you become seriously injured or pass away. These benefits will now be offered through New York Life, with enhanced coverage.
All employees working at least 18 hours a week receive Basic Life and AD&D insurance paid for by TheKey. The amount varies depending on your employment status. Part-Time Corporate and Part-Time Caregivers receive $10,000, and Full-Time Caregivers receive $25,000 in life insurance at no cost to the employee. Full-Time Corporate and K1 Executives receive one times their annual earnings and Executive Top Management receives two times their annual earnings.
Voluntary Life and AD&D offer coverage above the basic amount at discounted rates. The Guaranteed Issue amount is $100,000 for Employees, $50,000 for Spouse, and up to $20,000 for Child(ren).
STD provides income replacement if you are sick or injured and need time off work to recover. STD is available to Full-Time Corporate, K1 Executives, and Executive Top Management at no cost. STD benefits may be offset by benefits you receive from the state-mandated disability plans in California, Colorado, Connecticut, Massachusetts, Oregon, New Jersey, New York, Rhode Island, and Washington.
Voluntary STD provides additional income replacement if you are unable to work for a short period of time. Voluntary STD is available to Part-Time Corporate employees and Full-Time and Part-Time Caregivers, excluding those working in California, Colorado, Connecticut, Massachusetts, New Jersey, New York, Oregon, Rhode Island, and Washington.
LTD provides income protection if you cannot work for an extended period of time due to a disabling illness or injury. Executive Top Management receive LTD at no cost.
Voluntary LTD can add to your protection in case an injury or illness continues for an extended period of time—beyond what STD covers. Voluntary LTD is available to Full-Time corporate and Full-Time caregivers.