Life Insurance FAQ

Q: What is the benefit?
A: Your company-paid basic life insurance is $50,000. You automatically purchase the basic life insurance when you enroll in the medical plan. You must complete your life insurance form at the time you enroll in the medical plan. You cannot purchase life insurance separately.

Q: Can I purchase additional (supplemental) life insurance?
A: On your life insurance form you are asked to check whether or not you would like to supplement your policy. Volt offers its employees a standard amount of $50,000, as part of your benefits package. Checking the yes box would indicate that you would like to add an additional $50,000 for a cost to you of $.142 per thousand or $7.10 per month.

Q: Do I need to list a beneficiary?
A: It is required to list a primary beneficiary. However, only one primary beneficiary is required, the others are optional.

Q: How do I complete the Life Insurance Forms?
A: To complete the Life and Health Insurance Form (required for both plans):

• Name
• Social Security Number
• Address
• Day Phone
• Birth date
• Male or female
• Marital Status
• Check the Box if you decline all health insurance coverage (this includes declining life insurance).
• Supplemental Life Insurance (must check yes or no)
• Primary Beneficiary Name
• Primary Beneficiary Relationship
• Primary Beneficiary Date of Birth
• Contingent Beneficiary Name
• Contingent Beneficiary Relationship
• Contingent Beneficiary Date of Birth
• Employee Signature
• Date