Life & Disability Insurance

BASIC LIFE AND AD&D INSURANCE

Provided at no cost for all full-time employees through Sun Life

Princeton Hydro offers all full-time employees a Life and AD&D Insurance policy. The base coverage starts at $25,000 and increases with years of service. In addition, the plan includes coverage for your dependents: $5,000 for a spouse and $2,000 for each child.

This life insurance is designed to ease financial burdens by helping cover daily expenses, pay off debts, and provide financial security for your family in the event of an unexpected loss. The policy provides a guaranteed death benefit, which is paid to your designated beneficiaries.

VOLUNTARY LIFE INSURANCE

This is an optional benefit you may purchase

Employee Coverage

Choose from $10,000 to $500,000, in $10,000 increments.
Guaranteed Issue: Up to $100,000 the first time you are eligible for coverage (no health questions required).
Maximum coverage: 5x your annual salary.
Amounts above $100,000 require an Eligibility of Insurance Form (available in Paycor).

Spouse Coverage

Choose from $5,000 to $150,000, in $5,000 increments.
Cannot exceed 50% of your coverage.
Guaranteed Issue: Up to $25,000.

Child Coverage

Choose from $1,000 to $10,000, in $1,000 increments.
Cannot exceed 50% of your coverage.
Guaranteed Issue: Up to $10,000.

LONG-TERM DISABILITY INSURANCE

Provided at no cost for all full-time employees through Sun Life

Long-Term Disability Plans offer regular full-time employees financial protection when they are unable to work due to a non-work-related illness, injury, or disability. Employees receive 60% of their weekly wages, up to a maximum of $7,000 per month. If you meet the definition of disability, your benefits will begin following the elimination period. The waiting period is 90 days after injury or illness.