The Austin Company provides employees with three times his/her base salary in term life insurance coverage at no cost to the employee. Maximum basic coverage is limited to $250,000. AD&D coverage is the same as Group Term Life. Employees are also provided with dependent life insurance for your spouse & children. Spousal coverage is $5,000, while coverage for dependent children is as follows: Age 14 days up to 6 months (excluding stillborn) $100; Age 6 months to 26 years* $3,000.

*Your dependent children are eligible for this benefit if they are unmarried full-time students dependent upon you for principal support and maintenance.

Employees who choose to participate may purchase up to 5x your base salary in increments of $10,000, not to exceed $500,000 ($100,000 guarantee issue).

*If you retire, reduce your hours or leave Austin, you can take this coverage with you according to the terms of the contract.