Life Insurance provides financial protection for you and your family. All full-time permanent employees are eligible. Adobe offers this package in partnership with AIA and covers 100% of the cost.
The plan makes a lump-sum payment of your sum assured, which is equal to three times your annual salary. The sum assured is capped at S$600,000. Medical underwriting is required if your sum assured exceeds S$600,000.
Note: Salary for sales employees = base salary + 100% target commission. Salary for non-sales employees = annual base salary
Total Permanent Disability
After three months of continuous disability, 10% of the sum assured will be paid to you. The remaining 90% is payable in one lump sum one year after the initial payment, if you are still disabled.
You will receive 100% of the sum assured, up to S$400,000, upon diagnosis that is likely to lead to death within 12 months. If your sum assured exceeds S$400,000, the balance will be paid to your designated beneficiary upon your passing.
Adobe covers up to S$50,000 of the cost of the return of your mortal remains to your place of residence or place of regular employment.