Life and Accidental Death and Dismemberment Insurance
VMware provides Life Insurance and Accidental Death & Dismemberment Insurance through Malakoff Humanis (MH), for all regular employees.
You and/or your beneficiaries will receive a lump sum payment according to the following schedule if you should:
- Die while in the service of VMware due to illness or injury
- Become permanently disabled due to an accident
|Marital Status||Lump Sum Payment|
Separate without dependent children
|320% of Tranche A/B/C of the annual gross salary or 340% ASSC (Annual Social Security Ceiling) whichever is greater|
|Married without dependent children||350% of Tranche A/B/C of the annual gross salary or 340% ASSC (Annual Social Security Ceiling) whichever is greater|
|Lump sum per additional dependent child||96% of Tranche A/B/C of the annual gross salary|
In the case where both parents die simultaneously, dependents will be paid an additional death benefit.
If the death is the result of an accident, the above lump sum death benefit will be doubled.
Your children will also receive an Educational Annuity based on their ages:
|Child age 0 – 10 years||12% of Tranche A/B/C of the annual gross salary|
|Child age 11 – 17 years||15% of Tranche A/B/C of the annual gross salary|
|Child age 18 – 26 years (if still student)||30% of Tranche A/B/C of the annual gross salary|
If you wish to enrol in the Life Insurance plan, you must do so within 30 days of your start date.
VMware pays 100% of TA and 65% of TB, TC for the Life Insurance and Accidental Death & Dismemberment Insurance.
- TA : Tranche A : portion of the wage limited to the annual social security ceiling
- TB : portion of the wage between 1 to 4 times the annual social security ceiling
- TC : Tranche C : portion of the wage between 4 to 8 times the annual social security ceiling
When Coverage Begins
Coverage will begin on 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.