Life and Accidental Death & Dismemberment Insurance
If eligible, the amount of Life and Accidental Death and Dismemberment (AD&D) insurance available to you is 2x the annual salary you had in place before retirement or terminating from ASEBP. If you did not previously participate in Life and AD&D insurance, you aren’t eligible for these benefits. Benefits paid under these policies are tax-free.
Eligibility Requirements
Covered members under 65
Previously participated in ASEBP’s Life and AD&D insurance
Note that the following is a comprehensive summary of the official, legally binding ASEBP insurance policies and plan documents available through your employer or by contacting us.
The accident must be the sole cause of death or specified injury for the benefit to be considered
Available only to you, the covered member (note that some benefits are payable to your spouse and dependants)
Your Principal Sum is two times your annual earnings at the time of retirement to a maximum of $800,000.
Life Insurance
Payable to your designated beneficiary or your estate. This includes salary, administrative allowances, isolation pay, vacation pay, retroactive salary, and compensation for an acting assignment longer than three months.
Note that annual earnings do not include car allowances, early retirement incentives, expense allowances or reimbursements, overtime, pay in lieu of vacation, salary from teaching night or summer school classes, or signing bonuses.
Your Principal Sum is two times your annual earnings at the time of retirement to a maximum of $800,000.
