Group Basic Life
Shaw provides the Group Basic Life benefit through Minnesota Life Insurance Company to all regular, full-time associates. The amount of Group Basic Life is equal to one times your basic annual earnings up to a maximum of $100,000.
Dependents who are covered under the Shaw Medical Plan are eligible for Dependent Basic Life:
Spouse - $5,000 and Child(ren) - $2,000. Dependent children must also meet the Life Insurance Carrier's guidelines: up to age 19 or up to age 24 if a full-time student in an accredited college or disabled (verify plan requirements).
This benefit is at no cost to the associate.
If you are still employed at age seventy (70) or after, the Group Basic Life Insurance amount is reduced by 50%. If you are still employed, and your spouse reaches age seventy (70) or after, their Group Basic Life Insurance (must be covered under medical) amount is reduced by 50%.