Life Insurance
VMware provides Life insurance through the Retirement plan with Danica.
Eligibility
All regular employees of VMware are eligible for Life Insurance from the first day of active work as a VMware employee.
Benefits
If you should die while in the service of VMware due to illness or injury your beneficiaries will receive a lump sum payment of one (1) times annual salary. You may opt to purchase additional coverage up to a total of eight (8) times annual salary and a maximum of DKK 5,000,000. You may also elect to purchase Life insurance for your children under age 24 for the amount of up to 25% of annual salary.
Free Cover Limit
You automatically qualify for Life insurance up to the base cover of one (1) times annual salary if you are healthy and able to work.
Enrolment
You are automatically enrolled in the Life Insurance and insured for amounts under the free cover limit listed above. In order to qualify for insurance amounts exceeding the free cover limit you may need to undergo a medical examination. The insurance company will contact you within your first month to provide you with details.
Contributions
Contribution for Life insurance is included in the total pension contribution.
When Coverage Begins
Coverage will begin from your first day of active work as a VMware employee.
When Coverage Ends
Coverage will end on the last day of your employment with VMware unless continued individually.
Copy Link
FEEDBACK: Was this information useful?
Last Updated: 12 Nov 2021, 6:14 AM