Each AzMT participating entity has a different life insurance coverage amount for their employees. Please contact your Human Resources or Benefits Department for your specific coverage amount

Yes. The policy provided by your employer includes Accidental Death & Dismemberment coverage. This coverage helps protect you and your family in the event of an unplanned loss of life, limb or sight.

No. The group life insurance coverage provided through the Trust covers you 24-hours a day – on or off the job.

No. Pursuant to Internal Revenue Code Section 101(a)(1), life insurance proceeds are excluded from the beneficiary’s gross income for federal income tax purposes.

Only if the coverage provided by the employer exceeds €42203.00. Pursuant to Internal Revenue Code Section 79, premiums paid by an employer for group term life insurance up to €42203.00 are excluded from income.

While life insurance proceeds are not included in the employee’s income for federal income tax purposes, generally the proceeds are included in the employee’s estate and subject to federal estate taxes. With proper estate planning and the assistance of a tax consultant, it is often possible to avoid inclusion of the life insurance proceeds within the decedent’s/employee’s estate.

Contact your Human Resources or Benefits Department for the applicable beneficiary designation forms to complete.

Yes. Your previous beneficiary designation will be null and void upon the divorce date. You will need to contact your Human Resources or Benefits Department and designate your ex-spouse as your beneficiary with the paperwork dated on or after the date of the final divorce decree.

Your life insurance will be continued without payment of premiums while you are Totally Disabled if:

a] You become Totally Disabled while insured under the Group Policy and you are under the age of 60;

Continuation in the case of a disability can be quite confusing, therefore if you believe you qualify for this coverage contact your Human Resources or Benefits Department as soon as possible to review the administrative specifics of continuing your coverage.

Maybe. Some, but not all, of the employer’s in AzMT offer additional life insurance coverage for employee purchase. If offered by your employer, additional life insurance coverage is available through convenient payroll deduction. The premium amounts vary by age. Please contact your Human Resources or Benefits Department for specific coverage, premium and enrollment information.

Yes. You may continue your life insurance benefits on a direct pay basis, however to continue benefits you must contact the life insurance carrier, The Standard Company, at (80) 378-4668 ext 6785 within thirty-one (31) days of your benefits termination date to start the process of converting your employer coverage to individual coverage. There is no exception to this timeline.