Insurance Provider: AIA New Zealand Ltd
All permanent full-time employees are covered for Life Insurance.
A lump sum amount of four (4) times your annual salary, including base salary and target bonus, would be paid to you or your estate in the event of death or terminal illness. You are covered until age 70. If you leave VMware before then you may be able to continue the cover by porting the policy on personal basis.
VMware pays 100% of the premium costs.
Automatic Acceptance Limit (AAL)
The policy has an Automatic Acceptance Level of $400,000. If your salary is less than $100,000 you are automatically insured for four (4) times your annual salary.
Employees with salaries above the indicated threshold will be subject to underwriting requirements above the Automatic Acceptance Limit basis which coverage will be determined.
When Coverage Begins
Coverage begins on the first day of your employment with VMware
When Coverage Ends
Coverage ends on the end of your last day of service with VMware, or on your 70th birthday.