Life, Accident & Occupational Insurance
Basic Life Insurance is automatically provided upon employment at The Aerospace Corporation. You may elect to purchase supplemental life insurance equal to one up to eight times your annual salary rounded to the nearest thousand to a maximum of $1,500,000. Except for new hires and newly eligible dependents who enroll within 31 days of their eligibility effective date, evidence of insurability will be required for those who enroll in or increase their life insurance coverage.
You may also purchase limited life insurance coverage for your spouse and/or dependent children only if you elect additional life insurance for yourself. The cost for spousal coverage is based on your spouse’s age at the time application is made to the insurance company. Coverage for eligible dependent children is available at flat weekly rates.
If you are a part-time employee (working between 20 and 40 hours a week), your annual salary for purposes of determining payroll deductions is your hourly pay rate times 20 times 52.
Occupational Accident Plan/Accidental Death and Dismemberment (ADD)
This plan offers you protection for accidental death and dismemberment that occurs while on the job, traveling on company business, or commuting directly to and from your home and your place of work.