MMC Benefits Handbook
How the Plan Works
Your Company-paid death benefit is equal to one times your salary rounded to the next $1,000, if not already an even multiple of $1,000.
Example: An employee with a salary of $50,100 will have a benefit of $51,000. There is no minimum or maximum death benefit amount.
There are no exclusions or limitations for pre-existing conditions.
Will my benefits be reduced as I get older?
There is no reduction of the Basic Life Insurance benefit because of your age.
Are there any losses not covered under the Plan?
No, the Plan pays a benefit when you die regardless of the cause of death.
If I am disabled, does the Plan still provide a benefit?
If you are totally disabled, your coverage will continue for as long as you receive benefits under the Company's Basic Long Term Disability Plan.
Is there an additional benefit under the Basic Life Insurance Plan if I die in an accident?
No, the Plan does not pay any additional amount for accidental death.
The Company has separate accident insurance plans in which you may be eligible to participate.
If I am on an authorized leave of absence, does the Plan still provide a benefit?
Coverage continues for up to 12 months at no cost to you. If you are totally disabled, your coverage will continue for as long as you receive benefits under the Company's Basic Long Term Disability Plan.
If I Die
If you die while you are an active employee, the Basic Life Insurance benefit will be paid to your beneficiary.