Resources

LOCKE LORD PAID LIFE AND ACCIDENT INSURANCE – The Standard

To get you started with a base amount of Life and Accident insurance, the Firm pays the entire cost for two times your annual salary, to a maximum of $600,000.

Supplemental Life for Team Members & Attorneys: If you would like more life insurance protection for yourself, you can choose to purchase supplemental life insurance to bring your total coverage up to ten times your annual earnings, or $700,000, whichever is greater. If you choose insurance over certain limits, you may have to provide Evidence of Insurability. Evidence of Insurability is a series of health-related questions you answer with your doctor’s help. You will have to provide Evidence of Insurability if:

  • the amount of your Supplemental Life Insurance is more than $250,000
  • you enroll in Supplemental Life Insurance any time after you are first eligible

Terminal Illnesses:  If you are terminally ill—you are expected to live less than one year—you may receive up to 75 percent of your combined Basic and Additional Life Insurance amount with a maximum of $500,000. After your death, your beneficiary will receive your insurance benefit minus the amount that was already paid to you.

Firm Paid Life & Accident Insurance for you
  • 2x annual salary to a maximum of $600,000.
  • coverage reduces to 65 percent at age 70, 50 percent at age 75, and 30 percent at age 80.
Supplemental Life for you

(Team Members & Non-Partner Attorneys only)
  • Increments of $10,000 to a maximum of $700,000, not to exceed 10x annual earnings.
  • Guaranteed Issue of $250,000
  • coverage reduces to 65 percent at age 70, 50 percent at age 75, and 30 percent at age 80.
Certain exclusions, limitations and restrictions may apply

WHAT IS ACCIDENT INSURANCE?

Accident Insurance—also called Accidental Death and Dismemberment Insurance—-is similar to regular Life Insurance. If you die in an accident—for example, an automobile accident—-the amount of your coverage is paid to your beneficiary. However, Accident Insurance also pays a benefit if you are seriously injured in a covered accident. Part of your benefit may be paid to you if you lose a limb or your eyesight. With Locke Lord’s Term Life plan, you automatically get Accident Insurance equal to the amount of your Life Insurance. For more information on Accident Insurance, please see your Summary Plan Description.
Basic Term Life, Accidental Death & Dismemberment, Supplemental Term Life, and Voluntary Accidental Death & Dismemberment coverages are issued by Standard Insurance Company, 1100 SW Sixth Avenue, Portland, OR 97204. This flyer is intended to be a summary of your benefits and does not include all policy provisions, exclusions and limitations. A Booklet-Certificate, with complete information, including limitations and exclusions, will be provided. If there is a discrepancy between this document and the Booklet-Certificate issued by The Standard, the terms of the Booklet-Certificate will govern.

If there is ever a question about this benefit, or if there is a conflict between the information in this summary and the formal language of the Plan documents, the formal wording in the Plan documents will govern. Please note the benefits described in this summary may be changed at any time and do not represent a contractual obligation on the part of Locke Lord LLP.