Effective 1/01/2005
Program
Group Life Insurance
What it is
Basic Life Insurance coverage, providing a benefit of 2 times your annual salary, at no cost to you.
Who gets is
All regular employees (full and part-time) are eligible.
Optional Life Insurance for Employee, Spouse and Child
Option to purchase additional life insurance for you, your spouse and/or children, at group rates. Up to seven times your annual salary, up to $200,000 for your spouse and up to $10,000 per child.
All regular employees (full and part-time) are eligible.
Business Travel Accident Insurance
Insurance coverage, providing a benefit of up to 5 times your annual salary if you die or are injured while traveling on official company business, at no cost to you.
All employees directly compensated by IBM.
Short-Term Disability Insurance
Provides coverage if you cannot work due to sickness or an accident. Employees with 5 years of service or more, will receive 100% of your salary for 6 months. Employees with less than 5 years of service will receive 100% of your salary for 4-16 weeks (based on service) and 66 2/3% for the remaining period of the 6 months.
All regular employees (full and part-time) are eligible.
Long-Term Disability Insurance
Provides coverage if you become medically disabled and unable to work. Employees are provided with flex dollars to purchase coverage for 60% of pre-disability pay. This coverage is provided at no cost to you.
All regular employees (full and part-time) are eligible, following 6 months of absence in the Short-Term Disability Plan.
The Financial Educator
Access to on-line Financial, Life and Retirement Planning education tool. Fees paid for by IBM.
Available to all employees and their families.