New for 2027: Universal Lief will be administered by Lincoln Financial.
IMI provides automatic coverage that is 100% company-paid. You have the option to add more protection for yourself and your family.
You are automatically enrolled in Basic Life and Accidental Death and Dismemberment (AD&D) Insurance at no cost to you. If you want more coverage, you can purchase supplemental life and AD&D insurance for yourself, your spouse, and your dependents.
Life insurance pays a benefit to your beneficiaries in the event of your death. AD&D insurance provides an additional payment in the event of accidental death. It also provides payments for the loss of a limb, sight, or hearing.
Basic Life and AD&D insurance pays 2x your basic annual salary (lesser amounts for dismemberment). If you purchase supplemental insurance, the benefit payment amounts depend on how much coverage you choose.
You can choose additional coverage during new hire enrollment, Open Enrollment, or after a qualifying life event. Your cost for this coverage depends on the options you elect and is deducted from your paycheck after taxes.
The coverage below typically ends when you leave IMI except for Universal Life Insurance, which gives you the option to continue coverage if you’d like.
If you choose certain amounts of additional life insurance, you may need to submit documentation of good health to the insurance carrier for approval. This documentation is called evidence of insurability (EOI).
Name your beneficiary. Even if you only have basic coverage, it’s important to identify who should receive your benefit in the event of your death. If you don’t name a beneficiary, the state will decide how and when your benefit pays out. You can provide your beneficiary information in PlanSource.
