What You Need to Know

It’s not fun to think about, but it’s important to be prepared for the unexpected. Life and accidental death and dismemberment (AD&D) insurance provides financial protection for you and your dependents if you pass away or have a serious injury. The coverage is also portable, which means if you leave the Company, you can continue your coverage at your own expense.

Life Insurance

Life insurance pays a benefit if you die as a result of a covered accident or illness.

Employee life insurance

The Company provides basic life insurance coverage of 1.5 times your annual base salary, up to a $50,000 maximum, at no cost to you.

Supplemental life insurance

You can increase your life insurance coverage by electing employee-paid supplemental life insurance of up to seven times your annual base salary in $10,000 increments, up to a $300,000 maximum. What you pay for supplemental life insurance is based on your age and salary.

If you are terminally ill, you may be able to receive an early payment of part of your life insurance benefit—both employee and supplemental life insurance.

Dependent life insurance

You can purchase additional coverage for your spouse and eligible dependent children:

  • Spouse: Up to $150,000, in $10,000 increments
  • Dependent children: $10,000

Enrolling in coverage

You are enrolled automatically in basic life insurance coverage. You can enroll in supplemental life insurance and/or dependent life insurance during your initial eligibility period (generally when you first start working) or each year during Annual Enrollment. You cannot change your election until the next Annual Enrollment, unless you first become eligible during the year or have a qualified life event.

Evidence of insurability (EOI) is required if you want to elect or increase your spouse/domestic partner dependent life insurance after initial eligibility or if you elect an amount over $30,000.

If your spouse or dependent child is employed by or eligible for retiree life insurance through the Company, he or she cannot be covered under the spouse life insurance option.

Accidental Death and Dismemberment Insurance

In addition to basic life insurance, the Company provides accidental death and dismemberment (AD&D) insurance at the same amount as your basic life insurance at no cost to you. AD&D pays a benefit if you die or are injured by a covered accident. 

Check your beneficiaries!

If you die, your life and AD&D insurance benefits are paid to your beneficiary(ies). It’s important that you review your beneficiaries annually and make any necessary updates.

Review your beneficiaries