Waev Inc., provides all eligible employees with the option of purchasing additional Life and AD&D insurance for yourself, a spouse, and/or child(ren) through Mutual of Omaha at low group rates! When you enroll yourself and your dependents in this benefit, you pay the full cost through post-tax payroll deductions.
Please note, you will need to complete an evidence of insurability form if you elect an amount above the guaranteed issue amount if you are a New Hire or electing coverage of insurability for an amount more than one level above your current amount or any amount above the guaranteed issue. If you have waived in the past, you will need to submit evidence of insurability for any amount. Guarantee issue amounts are listed below.
The coverage amount for your spouse is based on your age, not your spouse’s age.
Employee | Spouse/Domestic Partner | Child(ren) |
|
|---|---|---|---|
| Coverage Increments | $10,000 | $5,000 | $1,000 |
| Guarantee Issue Amount | 5 times salary up to $150,000 | 100% of employee benefit up to $30,000 | 100% of employee benefit |
| Maximum Amount | The lesser of 5x your Basic Annual Earnings, or $500,000 | $100,000, not to exceed 100% of employee’s benefit | $10,000 not to exceed 100% of employee’s benefit |