[ SUPPLEMENTAL LIFE & ACCIDENT INSURANCE ]

PROTECTION FOR YOU AND YOUR FAMILY

Life can change fast. ABC Co. offers benefits that protect your income if the unexpected happens.

In addition to Basic Life Insurance, you may buy Supplemental Life Insurance for yourself, your spouse and children.

  • For yourself: 1 to 10 times annual salary1 ($10,000 minimum; $5 million maximum)
  • For your spouse/domestic partner: $10,000 to $250,000, in $10,000 increments
  • For your child(ren): $2,000 to $10,000 in $2,000 increments (all eligible children are covered for the same amount)
  • For yourself: $50,000 to $1 million, in $50,000 increments
  • For your spouse/domestic partner: $50,000 to $500,000, in $50,000 increments
  • For your child(ren): $50,000 or $100,000 (all eligible children are covered for the same amount)
Eligibility
  • Eligible employees and spouses/domestic partners can purchase additional life insurance coverage during this Open Enrollment period, up to the guaranteed issue amount. (This is the amount offered to a participant without regard to health status.)
  • Those who have been previously declined through Evidence of Insurability are not eligible.
  • Eligible employees and spouses/domestic partners who previously applied for insurance coverage over the guaranteed issue amount, but then withdrew their coverage application, are eligible to purchase additional life insurance coverage up to the guaranteed issue amount.
  • Please note that additional life insurance coverage is subject to Evidence of Insurability.
Evidence of Insurability

If you elect coverage within 30 days from your hire date or the date you become a full-time employee, you won’t have to submit Evidence of Insurability (EOI).

EOI is an application process that provides information on your health and your dependent’s health in order to gain coverage.

You may choose these amounts without submitting EOI:

  • For yourself: 5x your salary or $500,000, whichever is less
  • For your spouse: up to $50,000
  • For your children: up to $10,000 each

If you elect Supplemental Life Insurance for yourself or spouse after the initial eligibility period, EOI may be required before coverage can begin.

Helpful Resources