We offer basic, dependent and voluntary life insurance through Blue Cross Blue Shield of New Mexico (BCBS).
Basic Life insurance and Basic Accidental Death and Dismemberment (AD&D) are mandatory and the employee is covered at the rate of one times his/her annual salary rounded up to the nearest thousand with a maximum of $50,000.
If an employee chooses Dependent Life, his/her spouse is covered for $5,000, children 6 months to 26 years are covered for $2,000, and children 14 days to six months are covered for $500. We pay a portion of Basic and Dependent Life.
Voluntary Life offers the employee life insurance up to $300,000 in addition to the Basic Life insurance. Voluntary Life insurance in excess of $250,000 will require a completed statement of health. Employees may insure their spouse for the same amount not to exceed the employee’s amount of coverage. Premiums are based on age. Dependent children can be insured for $10,000 each. We do not contribute any portion of the Voluntary Life insurance premium.