life & AD&D insurance
IMA provides Basic Life and AD&D insurance, through Lincoln Financial Group, equal to 4x your base salary to a maximum of $500,000 at no cost to you. Validated and Associate producers will receive a flat $500,000 benefit.
This benefit also provides $2,000 in life coverage for your spouse and $2,000 for each child through age 25, as long as your spouse and dependents are added in UKG.
Note: Coverage exceeding $50,000 is considered imputed income. This means any amount over $50,000 must be included as income and will be subject to Social Security and Medicare taxes, which may be reflected in your paycheck.
IMA offers you the opportunity to purchase additional benefits for your financial protection at affordable group rates.
When deciding how much additional Life insurance to buy, consider the following:
You may purchase additional Life and AD&D coverage, through Lincoln Financial Group, in the amounts listed below. Take time to consider your insurance and protection needs to ensure you elect the right amount of coverage.
Please note that your benefit amount reduces by 35% once you reach age 70, and down to 50% at age 75. If you or your spouse are age 70 or over, ask an HR representative for the amount of coverage available.
| Benefit Features | Supplemental Life and AD&D Options* | ||
|---|---|---|---|
| Associate | Spouse | Dependent Child(ren) | |
| Coverage Options | $10,000 increments | $5,000 increments | $10,000 |
| Maximum | 10x annual earnings or $500,000, whichever is less | $250,000 (cannot exceed associate coverage) | $10,000 (cannot exceed associate coverage) |
| Guaranteed Issue Amount | $200,000 | $75,000 | |
| Guaranteed Issue Period | Within 30 days of benefits eligibility | ||
*Evidence of Insurability (EOI) may be required if you do not purchase additional Life and AD&D insurance when first eligible or if you elect more than the guaranteed issue amount.
You may choose anyone to be the beneficiary of your Life and AD&D policy in the event of your death or serious injury. Review your beneficiary designation periodically to ensure it reflects your current wishes.
Please reach out to HRBenefits@IMAcorp.com for assistance.
Losing a person you love is one of life’s most challenging moments. To help ease this burden, IMA, in partnership with Lincoln Financial Group, has teamed up with Empathy to provide compassionate support when families need it most.
U.S.-based employees covered by a Lincoln Financial Group Life policy can access Empathy’s comprehensive system of care, which includes dedicated care managers, personalized guidance, automated tools, and grief resources. Empathy guides you through every step—from understanding your options to taking actionable steps that align with your budget—so you can navigate this difficult time with confidence and support.
These Summaries are designed to help you understand the coverage and benefits available. However, they are not legal documents, and if these Summaries say anything that disagrees with the legal documents that make up any of the plans, the legal documents will control. IMA Financial Group, Inc., reserves all rights to make changes at any time in the benefits, costs, and other provisions of any plan. Those changes could include the complete termination of benefits for all individuals or certain groups of individuals. However, any continuation coverage rights under federal law which are then applicable will be provided. No employee, spouse, or dependent will acquire any vested (nonforfeitable) right to have benefits, costs, or other provisions of any plan remain unmodified or in effect. No plan maintained by IMA Financial Group, Inc., is intended to create any contractual right of employment, and nothing contained therein or in these summaries shall be construed as a guarantee of employment for any specific period of time or for any specific type of work.
Policy LF1591IMA
