Life and AD&D Insurance
Life and Accidental Death & Dismemberment (AD&D) Insurance provides financial protection for your loved ones if you pass away or suffer a serious injury that results in dismemberment.
These benefits can help cover final expenses, pay off debts like credit cards or mortgages, or provide added financial stability during a difficult time.
Basic Life and AD&D Insurance
For you: You receive Basic Life and AD&D insurance coverage at no cost to you, and you do not need to enroll in any other health and protection program.
| Basic Life and AD&D | |
|---|---|
| Employee | • 1x your basic annual earnings |
| • Maximum of $125,000 (coverage levels may vary by eligibility group, as detailed in the Summary Plan Description) | |
| • Benefit reduced by 50% of the original amount if you are age 70 or older (Life) or age 99 or older (AD&D). | |
| Spouse/Domestic Partner | • $1,500 coverage |
| • Benefit reduced by 50% at age 70 | |
| Child(ren) | • $1,500 coverage |
| • Your child(ren) live birth to 26 years are eligible | |
Imputed Income
Under current tax laws, imputed income is the value of your Basic Life insurance that exceeds $50,000 and is subject to federal income, Social Security and state income taxes, if applicable. This imputed income amount will be included in your paycheck and shown on your W-2 statement
Voluntary Life and AD&D Insurance
In addition to Basic Life and AD&D, eligible employees may purchase additional Voluntary Life and AD&D insurance at favorable group rates. Participants pay 100% of the premium. Voluntary Employee Life insurance enrollment is required for spouse/child(ren) enrollment.
| Voluntary Life | |
|---|---|
| Employee | Increments of 0.5x to 8x your salary not to exceed $2,500,000. Benefits reduce by 50% of the original amount if you are age 70 or older. |
| Spouse/Domestic Partner | Increments of $10,000 up to $250,000; cannot exceed 100% of Employee coverage. Benefits reduce by 50% of the original amount if you are age 70 or older. |
| Child(ren) | • Coverage begins from live birth and continues to age 26. |
| • Increments of $1,000 not to exceed $25,000 for children aged 6 months to 26 years. | |
| • Coverage is $500 for child aged less than 6 months. | |
| • Coverage cannot exceed 100% of the Employee Voluntary Life coverage amount. | |
Note: It is important to provide beneficiary information during the enrollment process and keep this information up to date. If you decline Voluntary Life insurance when first eligible or if you elect coverage and wish to increase your benefit amount at a later date, evidence of insurability may be required before coverage is approved.
| Voluntary AD&D | |
|---|---|
| Employee | • ½, 1, 2, 3, or 4x your annual salary, up to a maximum of $1 million |
| • Benefits reduce by 50% of the original amount if you are age 70 or older | |
| Spouse/Domestic Partner | • Up to 60% of Voluntary Employee AD&D, up to a maximum of $300,000 |
| • Your spouse/domestic partner under the age of 99 is eligible | |
| Spouse/Domestic Partner and Child(ren) | • Spouse/Domestic Partner under age 99: Up to 50% of Voluntary Employee AD&D, up to a maximum of $300,000 |
| • Child(ren) from live birth to 26 years: Up to 10% of Voluntary AD&D per child, up to a maximum of $50,000 per child | |
| Child(ren) only | • Up to 15% of Voluntary Employee AD&D per child, up to a maximum of $50,000 per child |
| • Child(ren) from live birth to 26 years are eligible | |
Voluntary Life and AD&D Costs
Business Travel Accident Insurance
Business Travel Accident insurance offers coverage in the event of sickness, accidental death, or dismemberment when you’re traveling for business. It is provided at no cost to active, full-time employees who are regularly scheduled to work 30 hours or more per week, as well as eligible dependents who accompany that travel. Coverage includes:
- 24-hour worldwide business travel protection
- Travel assistance services
- Emergency medical evacuation
For more information about Business Travel Accident coverage, call 855-327-1414 or 630-694-9764 (outside of the U.S.) and reference Policy #ADD NO498299A. Union employees are not eligible for this coverage unless specifically indicated in their collective bargaining agreement.