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| LIFE INSURANCE |
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Highlights
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Life and accident insurance benefits help provide financial security
for you and your family members in the event of death or accidental
injury. Valassis provides Basic Life and Accidental Death and Dismemberment
(AD&D) Insurance coverage to you at no cost. Valassis also offers
you the opportunity to build added levels of security at group rates
through the purchase of Dependent and Voluntary Term Life Insurance.
The insurance carrier for the Valassis life and accident insurance plans
is the Hartford.
Below is a brief overview of the coverage available under the life
and accident plans.
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Coverage
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Full-Time Benefit
(associates scheduled to work 37.5 or more hours a week)
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Part-Time Benefit
(associates scheduled to work 20 - 37.4 hours a week)
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Cost
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| Basic Life Insurance (Company-provided) |
One and a half times annual base pay
as defined by the plan (rounded to the next higher $1,000), up to
$500,000 |
$25,000 |
Fully paid by the company. May be waived
to avoid taxation of benefit over $50,000 |
| AD&D Insurance (Company-provided) |
One and a half times annual base pay
as defined by the plan (rounded to the next higher $1,000), up to
$500,000 |
$25,000 |
Fully paid by the company. If you have
Basic Life, you will automatically receive AD&D |
| Voluntary Term Life Insurance
(optional) |
Up to five times annual
base pay as defined by the plan (rounded to the next higher $1,000)
up to $1,000,000 (over $400,000 requires evidence of insurability).
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$25,000 or $50,000 |
Fully paid by you through
payroll deductions at group rates |
| Dependent Term Life Insurance
(optional) |
Choices for spouse/child
coverages are: $10,000/$5,000, $30,000/$10,000, or $50,000/$10,000 |
Choices for spouse/child
coverages are: $10,000/$5,000, $30,000/$10,000, or $50,000/$10,000 |
Fully paid by you through
payroll deductions at group rates |
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Summary Plan Description
The legal summary of this benefit will be included in the
2008 Benefits Handbook.
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