Life Insurance: Don’t Skip Financial Security for Your Family
ABC is the insurance carrier for our employee group life coverage.
Basic Life Insurance and Accidental Death and Dismemberment (AD&D)
ABC provides a base level of coverage at no cost to you. If you are a Regular Full-Time employee, you receive 1x your salary up to a maximum of $500,000 and a minimum of $10,000.* If you are a Full-Time or Regular Part-Time employee, you receive $30,000 in coverage (if you work less than 15 hours per week you are not eligible for life insurance).
Employee Purchased Life Insurance
As a Regular Full-Time, Full-Time or Regular Part-Time employee, you have the following options for Employee Purchased Life Insurance.
Employee Optional Life Insurance: Choose from seven different multiples (levels) of your salary — 0.5x, 1x, 2x, 3x, 4x, 5x, and 6x, not to exceed $5 million.*
Spouse Life Insurance: Choose from nine different flat amounts (levels): $10,000, $25,000, $50,000, $100,000, $150,000, $200,000, $300,000, $400,000, and $500,000.
You also have the option to elect child life insurance of $20,000 per child.
* Your amount of life insurance will be adjusted each January 1 based on the greater of your gross eligible wages from the previous 12 months or your base salary as of enrollment.
Make Your Choice
Decide if Basic Life and AD&D coverage is enough protection for you or if you could use a little more.
Understand the details, including Evidence of Insurability requirements.
Other Considerations
Things to know (Beneficiary designation, family members who work for ABC, imputed income).