Voluntary Accidental Death & Dismemberment Insurance
Underwritten by Metropolitan Life Insurance Company, New York, NY
Coverage options:
- Independent Business Owner (IBO) only
- IBO and family
Definition of IBO
- You must be a current IBO under the age of 70 and member of the Independent Business Owners Benefits Association.
- You must be a citizen or legally able to work in the United States.
- You must not be confined in a hospital
- If your spouse is a current IBO, you are both eligible for the IBO Only Plan coverage, however, he/she may apply by completing a separate enrollment form.
Dependent Coverage
If you elect Voluntary accidental dealth and dismemberment (AD&D) insurance coverage, you may also enroll your spouse and/or child(ren) (up to age 26 and supported by you) under the Family Plan. If your spouse is also a current IBO, you both may enroll under the IBO Only plan – your spouse will need to complete their own enrollment form.
Benefit Amount Guidelines
IBO only
The IBO only plan covers you only for the benefits this plan provides:
- Minimum benefit - $25,000
- Maximum benefit - $400,000
Family Plan
At the time of the accident, if you have both a spouse and one or more eligible children covered, your coverage includes:
- Spouse - 40% of IBO Member's Benefit
- Each Child - 10% of IBO Member's Benefit
Spouse Only
At the time of the accident, if your family consists of a spouse only, your coverage includes 50%:of IBO Member's Benefit.
Each Child
At the time of the accident, if your family consists of child(ren) only, your coverage includes 15% of IBO Member’s Benefit.
Benefits
Accidental Death and Dismemberment Basic Benefits
This AD&D insurance plan offers protection on a worldwide basis against any covered accident in the course of business or pleasure, whether on or off the job, or in or away from home. This protection is available 24 hours a day, everyday.
Benefits are payable if you (or your dependent, if covered) are injured as a result of an accident, the injury is independent of sickness and all other causes, and a loss occurs within 365 days after the date of the accident. Benefits are payable as follows:
|
Loss of:
|
Benefit:
|
| Life |
100% of Principal Sum |
| Arm or Leg |
75% of Principal Sum |
| Hand or Foot |
50% of Principal Sum |
| Sight, Hearing or Speech |
50% of Principal Sum |
| Hemiplegia |
50% of Principal Sum |
| Paraplegia |
75% of Principal Sum |
| Quadraplegia |
100% of Principal Sum |
| Brain Damage |
100% of Principal Sum |
Additional AD&D Benefits
In addition to basic AD&D benefits, you and your dependents (if the Family Plan is elected) are protected by the following:
Air Bag Benefit
Pays five percent of the Principal Sum to the maximum of $10,000 if insured is injured in an automobile accident that is equipped with a factory installed airbag. The Air Bag Benefit will be payable in addition to any benefits otherwise payable under the Plan. In order to receive this benefit, a coroner, traffic officer, or other person of competent authority must verify the Air Bag availability.
Seat Belt Usage Benefit
When you or a covered dependent receive injuries covered by the policy which result in loss of life, you will receive an additional 10 percent of the Principal Sum to the maximum of $25,000 if, at the time of the accident, you were the operator of, or a passenger in, a private passenger automobile and utilizing a seat belt. A doctor, coroner, traffic officer or other person of competent authority must verify seat belt usage.
Coma Benefits
This benefit will pay a monthly benefit while the insured is in a comatose state as a result of an injury. The benefit payments do not begin until the insured has been in a coma for 31 days. The benefit is 1% for 60 months of your Principal Sum payable for a maximum of 20 months after the 31 day waiting period.
Hospital Confinement
If You or a Dependent are confined in a Hospital as a result of an accidental injury which is the direct cause of such confinement We will pay an amount for each full month of Hospital Confinement equal to the lesser of 1% of the principal amount and $2,500 for up to 12 months.
Only one of the amounts (largest applicable) named above or an amount listed in the Benefits for Specific Loss provision of the certificate will be paid for injuries from one accident.
Exposure and Disappearance Benefits
An insured or covered dependent will be presumed to have died due to covered injuries, if while insurance is in effect, he or she suffers a covered loss due to exposure to the elements. An insured or covered dependent will be presumed to have died if, while insurance is in effect and after the forced landing, stranding, sinking or wrecking of a covered vehicle, he or she disappears, his or her body is not found within 52 weeks of the accident and a valid death certificate is issued by a court of appropriate jurisdiction.
Family Benefits (Only available with the Family Plan)
If you select the family plan, you and your dependents are protected by the following:
Spouse Education (Only available with the Family Plan)
If your spouse is enrolled in Voluntary AD&D, on the date of a covered accident which results in your death, MetLife will pay the lesser amount of five percent of your Principal Sum or $5,000 for one academic year of uninterrupted college or university attendance.
Child Education Benefits (Only available with the Family Plan)
If your dependent child(ren) (up to age 26 and supported by you) is enrolled in Voluntary AD&D, on the date of a covered accident which results in your death, MetLife will pay benefits as the lesser amount of twelve percent of your Principal Sum or $10,000 per child per year for four years. This benefit will pay for each year of full-time, uninterrupted college or university attendance subsequently completed by the child.
Child Care Benefit (Only available with the Family Plan)
If You or Your Spouse die as a result of an accidental injury, We will pay this additional Child Care benefit amount equal to the Child Care Center charges incurred for a period of up to 4 consecutive years, not to exceed an annual maximum of $5,000; and an overall maximum of 12% of the Full Amount.
Common Accident Benefits (Only available with the Family Plan)
If you participate in the Family Plan and both you and your covered spouse die in the same covered accident, then your spouse’s benefit is increased to equal your Principal Sum.
Effective Date
An eligible IBO member will become insured, subject to payment of required premiums, on the first of the month, following approval of your enrollment form.
Voluntary Accidental Death and Dismemberment insurance underwritten by Metropolitan Life Insurance Company New York, NY. Group Policy Form: 162250-1-G
Like most insurance policies, MetLife policies contain certain exclusions, waiting periods, reductions, limitations and terms for keeping them inforce. All policies and riders may not be available in all states or at all issue ages. Please contact your plan administrator at 1-800-254-2327 for details.
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