What are the supplemental life and AD&D insurance benefits?
If you’re eligible, you may purchase supplemental coverage of one, two, three, four or five times your annual base salary with no evidence of insurability (EOI). The maximum coverage amount is $600,000. You may purchase more coverage, up to eight times your annual base salary to a maximum of $1,000,000, but this additional amount of coverage is subject to EOI. You may increase your coverage by one times your base salary each year, also without EOI, until you reach five times your annual salary base (or $600,000). Any amount above five times your annual salary requires EOI.
The value of the coverage you select is based on your annual base earnings and your age as of January 1 of the plan year of coverage or the date you become benefits eligible, if later. The AD&D benefit matches the supplemental life benefit; AD&D is not a separate election. This is also true if you purchase spouse or child supplemental life. If you’re not actively at work when you enroll for or increase supplemental life and AD&D coverage, your coverage takes effect when you complete your first day back at work.
For example, if your annual base salary is $41,550 and you purchase supplemental life for two times your annual base salary, your payout amount would be $84,000 ($41,550 rounded to $42,000, times 2).