Life Insurance BASIC LIFE INSURANCE AND AD&D International Alliance Group pays 100% of the cost of this LifeShield Group Term Life Insurance Plan. Coverage for each full-time benefit eligible member is $25,000. Life insurance provides protection for those who depend on you financially. Your need varies greatly due to age, number of dependents, dependent ages and your financial situation. Accidental Death and Dismemberment (AD&D) benefits provide a benefit to you or your beneficiary if you are seriously injured or die in an accident.
HOW IT PAYS 100% benefit amount if your death is the result of an accident, in any year. You also have the option to convert this term life policy into a whole life policy up to age 70.
Year 1
If a death is to occur in the first year the benefit payout is 120% of all premiums paid.
Year 2
If a death is to occur in the second year, the benefit payout is 20% of the full amount.
International Alliance Group pays 100% of the cost of the Term Life and AD&D.
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Year 3
If a death is to occur within or after the third year, the payout is the full benefit amount.
