Aramco Offers Company Paid Life Insurance & Survivor Income Benefits
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Author: Reilly Financial Advisors
Released 29 November 2007
Did you know…
Aramcons retiring after July 31, 2001 are eligible to receive company paid life insurance coverage in the amount of $10,000 along with additional monthly survivor income benefits for their beneficiary?
Retired participants of the company’s group insurance plan, with 10 years of service or more, will receive these benefits assuming they meet certain eligibility tests on their termination date. No contributions are required from the retired participants of the plan.
If qualified, a ten thousand dollar ($10,000) lump sum benefit is payable to your designated beneficiary upon your death. In addition, a monthly benefit equal to 15% of your last monthly base salary will be payable to your survivor(s). How and to whom benefits are paid is subject to the terms outlined in your Benefits Program Handbook. Survivor benefits commence on the first day of the month after a retiree’s death.
This is one example of the several factors you may want to consider as you construct your retirement plan. For more information regarding this program contact your Personnel Office or Aramco Services Company, P.O. Box 4534, Houston, Texas 77210-4534.
Reilly Financial Advisors
Local: 619/ 698-0794
Toll Free: 800/ 682-3237
FAX: 619/ 698-7260
Email: rfa@rfadvisors.com