Term Life Insurance and AD&D Insurance Options
Basic Employee Term Life and Accidental Death & Dismemberment (AD&D) Insurance
Your basic life insurance coverage is a term life policy. AD&D coverage pays benefits to you or your beneficiary(ies) if you die or are injured as a result of an accident. You automatically receive life and AD&D insurance coverage of one times your total compensation. This coverage is provided by your employer at no cost to you.
Business Travel Accident Coverage
Business Travel Accident coverage pays benefits to you or your beneficiary(ies) if you die or are injured as the result of an accident while you are traveling on business. You automatically receive business travel accident coverage of three times your total compensation. This coverage is provided by your employer at no cost to you.
Optional Basic Employee Term Life and AD&D Insurance Coverage
You can purchase a benefits package that includes additional life insurance and AD&D coverage for yourself of one times your total compensation. If you do not enroll in Optional Basic Term Life when you become eligible, evidence of insurability is required for future participation.
Monthly Cost |
Total |
Optional Basic Employee Term Life and AD&D |
$0.145 per $1,000 |
Plan Maximums
- Maximum coverage for Basic and Optional Basic Employee Term Life Insurance is $1,500,000.
- Maximum coverage for employer-paid AD&D and employee-paid AD&D coverage if $2,000,000 combined per insured person.
Evidence of Insurability
If you do not enroll in Optional Basic Term Life when you become eligible, evidence of insurability is required for future participation.
How your Life Insurance Amount is Determined
Total Compensation is equal to your current base salary plus all prior year variable pay. As a new employee, your total compensation is your current base salary.
Age Reduction Starting at 65 (Basic Term Life & Optional Basic Term Life)
Please note that the amount of insurance on an employee age 65 or older is a percentage of the eligible amount as shown in the table below:
| Age | Amount of Insurance |
| 65 - 69 | 65% |
| 70 - 74 | 50% |
| 75 + | 35% |
Age reductions will apply the first day of the month following the 65th, 70th and 75th birthdays.
Child Term Life Insurance
Life insurance coverage is available for eligible dependent child(ren).
| Coverage Amount | Monthly Rate |
| $5,000 | $0.60 |
| $10,000 | $1.20 |
| $15,000 | $1.80 |
| $20,000 | $2.40 |
| $25,000 | $3.00 |