Life and AD&D Insurance
Life and AD&D insurance is part of your financial protection strategy and includes employer-provided and optional coverage components.
Basic Life and Accidental Death and Dismemberment (AD&D) Insurance
As an important part of your financial planning, you are automatically provided with basic life and AD&D insurance to protect you and your family in the event of an accident or death, at no cost to you.
A specific benefit amount is provided to you, your legal spouse and dependent children.
Things to Keep in Mind
Life and AD&D insurance provides many benefits, but there are a few points to keep in mind:
- Imputed Income: The value of your company-provided life insurance premiums for benefit amounts over $50,000 is considered taxable. Contact your tax professional for more information.
- Age Reduction: Benefit amounts reduce as you age.
- Portability: If you leave the company, you can convert your policy to an individual policy and continue your coverage.
Beneficiary Designation
Benefits are paid to the beneficiary you designate. Please keep your beneficiary information up to date in Fusion. If you need assistance, call HR Services at 877-444-MyHR (877-444-6947), Monday – Friday 7:00 AM to 7:00 PM CT.
For more information on your employer-paid benefits, please visit MyHR.
Reliance Matrix
Supplemental Life and AD&D
You may purchase Supplemental Life and AD&D only for you, the team member. We do not offer additional coverage for your spouse or dependents.
- Your cost is based on the amount you elect and your age, and it is paid through after-tax payroll deduction.
- Consider costs such as funeral expenses, legal expenses and general living expenses for your surviving family members when determining an appropriate amount of additional coverage.