Income Protection

These benefits are designed to provide financial security and protect your loved ones. Aside from Basic Life and Accidental Death & Dismemberment (AD&D), the benefits described here are 100% employee-paid. They are available directly through a vendor. We do not contribute to or sponsor these benefits.

Basic Life and AD&D Insurance

  • Available at no cost to you if eligible. See Eligibility requirements
  • Receive basic life insurance, equal to one time your annual base salary rounded up to the next $1,000, to a maximum of $300,000.
  • Includes basic accidental death and dismemberment (AD&D) insurance equal to the amount of life insurance coverage to which you are entitled.
  • AD&D insurance may pay benefits if you die or suffer certain serious injuries as a result of an accident.
  • Coverage for new employees with a completed enrollment is effective on the first of the month following date of hire.

Supplemental Life and AD&D

  • Purchase an additional one to seven times your annual base salary rounded up to the next $1,000, to a maximum of $2 million.
  • The amount of life insurance available may be reduced based on your age.
    • If you are between the ages of 70 and 74, your amount of life insurance will be 65% of the amount of life insurance you had before age 70.
    • If you are age 75 or older, your amount of life insurance will be 50% of the amount of life insurance you had before your first reduction.Any increase or decrease in the amount of your insurance due to a change in your annual earnings will be added or subtracted from the original amount in force before age 70, and the recalculated amount will be reduced according to this reduction. If you become insured on or after age 70, this reduction will be applied to your amount of insurance.

Dependent Life Insurance

Purchase coverage

  • For your legal spouse: options range from $10,000 to $250,000
  • For your child(ren): options range from $5,000 to $25,000

Rate information is available when you enroll.

Accident Insurance

  • Pays benefits based on the injury and treatment needed, including emergency room care and related surgery.
  • The benefit can help offset the out-of-pocket expenses that medical insurance does not pay, including deductibles and copays.
  • Family coverage is available.
  • You must be legally authorized to work in the U.S. and actively working at a U.S. location.
  • Spouses and dependents must live in the U.S. to receive coverage.

For complete details on coverage and availability: Visit Unum  or call 800-635-5597.

Whole Life Insurance

  • Pays a death benefit to your beneficiaries.
  • Also builds cash value you can use while you are living.
  • The policy accumulates cash value at a guaranteed rate of 4.5%.
  • Once your cash value builds to a certain level, you can borrow from the cash value or use it to buy a smaller “paid-up” policy with no more premiums due.

For complete details on coverage and availability: Visit Unum or call 800-635-5597.

Long-term Care Insurance (LTC)

  • Voluntary program that can help you preserve your independence, as well as help relieve your family’s stress if you need home care, nursing home care or assisted living care.
  • Coverage is also available for your spouse and parents.
  • Discounts are available for preferred health and spousal coverage.

For more information: Visit Unum or call 800-227-4165

IRS Regulations for Life Insurance

IRS regulations require employers to include, in your taxable income, the cost of employer-paid group life insurance in excess of $50,000. The value of this insurance is based on an IRS premium table, not on the actual cost. The value of any coverage in excess of $50,000 automatically will be reflected on your paycheck as taxable income.

Statement of Health

If electing supplemental life or dependent life benefits during your initial hire, you are not required to provide proof of good health. However, if you choose coverage any time after your first 30 days of employment, you must provide proof of good health. The insurance company must approve your coverage before the new benefit can become effective. Payroll deductions will not start until coverage is approved.

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