Life Insurance

Riverside provides, at no cost to you, basic life and AD&D insurance. In the event of your death, our life insurance policy helps provide a general safety net for your beneficiaries. If you are a full-time employee, your coverage is equal to 2x your annual earnings to a maximum of $500,000. AD&D provides another layer of benefits to either you or your beneficiary if you suffer from loss of a limb, speech, sight, or hearing, or if you die in an accident. We will be partnering with Guardian for our life insurance coverage.

Due to IRS regulations, a life insurance benefit of $50,000 or more is considered a taxable benefit. You will see the value of the benefit included in your taxable income on your paycheck and W-2. These benefits will reduce once you reach a certain age (65% at age 70, an additional 45% at age 75, an additional 30% at age 80, and an additional 20% at 85).

Earnings Definition: Annual Salary + Average Bonus.