Protecting your most valuable asset – your family’s financial future

Why NADA Employee Life Insurance?

As a member of an exclusive NADA dealer-owner group, you’re eligible to take advantage of NADA Employee Life — a term life insurance program endorsed by NADA with coverage issued by The Prudential Insurance Company of America.

The NADA Employee Life Insurance Program provides life insurance coverage for your dealership’s salaried employees. Employee Life coverage delivers peace of mind for employees at affordable group rates for you. By choosing Employee Life Insurance, you guarantee that your employees’ families will have financial security when they need it most.

Like any good financial planning tool, the Employee Life Program gives you and your staff flexibility. The Employee Life Insurance Program has two options: Option 1 provides coverage based on the level of the life insurance benefits, while Option 2 coverage is calculated as a percentage of the employee’s base annual earnings.

Employees are eligible for the program if they are:

• A salaried staff member;
• Work at least 20 hours per week; and
• Have completed the Employment Waiting Period, if any.

Employee Life Insurance Program coverage cannot be canceled due to age as long as:

• The employee and the dealership meet the qualifications listed;
• The program remains in force; and
• Premiums are paid on time.

Participating dealerships are eligible for cash refunds, which are paid by the NADA Insurance Trust from premium refunds received from Prudential. While not guaranteed, these refunds have been paid every year since 1978.

Cash Refunds

Annual cash refunds, while not guaranteed, can significantly reduce your insurance cost. In early 2007, cash refunds were paid to eligble Employee Life participants who were covered under the Plan for all of 2006. Shown are examples of recent monthly net costs and cash refunds per $50,000 of Life coverage. (Assumes monthly payment basis.)