Life and Accidental Death & Disablement
All regular full-time employees are eligible for Life insurance and Accidental Death & Disablement (AD&D) insurance.
|Life insurance, AD&D, Total permanent disability||3 times annual salary including commission / incentive* up to 35,000,000 PHP|
|Terminal Illness Living Benefits||50% of Life coverage up to 2,000,000 PHP|
|Burial Benefit||15,000 PHP|
* The commission / incentive used is based on target commission / incentive amount for the current year.
Free Cover Limit
You automatically qualify for insurance coverage up to 13,500,000 PHP.
You are automatically enrolled in the Life insurance and Accidental Death & Disablement insurance insured for amounts under the free cover limit listed above. Please fill the Application for Group Life Insurance and contact to HR Source [VMware network access required].
If your 3 times annual salary is above 13,500,000 PHP, the additional insurance coverage is subject to evaluation and approval of the insurance company based on the documents required for submission by the insurance company.
When Coverage Begins
Coverage will begin on your first day of active work as a VMware employee.
VMware pays 100% of the premium costs for the Life insurance and Accidental Death & Disablement insurance.
When Coverage Ends
Coverage will end on the last day of your employment with VMware.