Life and AD&D Insurance
Protect yourself and your family from life’s unexpected events — because a secure future starts with solid protection.
M/I Homes partners with New York Life (NYL) to provide full-time employees with life and accidental death and dismemberment (AD&D) protection at no cost to you. You also have the option to purchase additional life insurance for yourself and dependents.
Basic Life and AD&D Insurance (Company Paid)
M/I Homes automatically provides you with life and AD&D coverage in the amount of 1x your base salary or commission value up to $350,000. This benefit is provided at no cost to you.
Employee Supplemental Life & AD&D (Employee Paid)
You are eligible to purchase additional coverage in increments of $10,000 up to a maximum of $650,000. The Guaranteed Issue amount is $250,000.
Spouse Supplemental Life & AD&D (Employee Paid)
You can elect supplemental life insurance coverage for your spouse in increments of $5,000 up to a maximum of $100,000. The Guaranteed Issue amount is $25,000.
Child(ren) Supplemental Life & AD&D (Employee Paid)
You may elect $10,000 in coverage for each of your dependent children. No medical questions or exams are required.
Contact Information
What Is Guaranteed Issue?
The Guaranteed Issue amount is the maximum amount of coverage you can elect without needing to complete an Evidence of Insurability (EOI).
What Is Evidence of Insurability?
Evidence of Insurability (EOI) involves completing a health questionnaire, and, in some cases, undergoing medical exams or providing medical records to determine whether you qualify for additional coverage based on health status.
Base Salary/Commission Value Definition
| Employment Classification | Base Salary Definition |
|---|---|
| Non-Commissioned Employees | Base salary not including overtime pay, bonuses, or any other additional compensation |
| Commissioned Employees | The greater of base salary (if applicable) and net commissions for the previous calendar year or annualized draw amount |
This Benefits Website provides general information for our benefits-eligible employees; however, more detailed information is available within the plan documents and legal contracts between our company and the insurance providers. In case of any discrepancy between this Benefits Website and the plan documents, the plan documents always govern and determine your exact benefits. In addition, the company reserves the right to modify or terminate any benefit plan at any time. Benefits are not a guarantee of employment.