Providing economic security for your family if you pass away, become disabled, or experience an injury or illness is a major consideration in personal financial planning. As an employee, you automatically receive Basic Life and AD&D coverage in the amount of two (2) times your base salary up to $500,000 (subject to reduction based on age). This coverage is provided at no cost to you.
Don’t forget to update your beneficiary designation if you experience a life change.
Voluntary Life and AD&D offers additional financial protection. If you elect Voluntary Life and AD&D for yourself, you may also elect to purchase coverage for your spouse and eligible dependent children. New hire employees receive guaranteed issue coverage up to $100,000. Spouses receive guaranteed issue coverage up to $50,000. For any amount over these limits, an Evidence of Insurability form must be completed.
| Plan Provision | New York Life – Voluntary Life and AD&D |
|---|---|
| Benefit Amount | |
| Team Member | $10,000 increments up to a maximum of $500,000 |
| Spouse | $5,000 increments up to $500,000 (Coverage ends at age 70) |
| Child(ren) | Birth to 6 months $500 6 months to 26 years: $2,000 increments between $2,000 up to $10,000 |
| Guaranteed Issue | |
| Team Member | $100,000 |
| Spouse | $50,000 |
| Child(ren) | $10,000 |
*Evidence of Insurability (EOI) may be required.
Evidence of Insurability (EOI) is the process of providing health information to qualify for certain types of insurance coverage. If you elect voluntary Life and AD&D coverage above the guaranteed issue limit or after the guaranteed issue period, you will be required to submit a health questionnaire (in some cases, a physical exam may be required). Your questionnaire will be reviewed by the carrier and you will be notified of their decision directly.
Call 888-226-4567 or visit Survivor Assurance for more information.
Visit Survivor Assurance for more information.
Call 888-724-2262 or visit My Secure Advantage for more information.
This website highlights some of your benefit plans. Your actual rights and benefits are governed by the official plan documents. If any discrepancy exists between this communication and the official plan documents, the plan documents will prevail. The company reserves the right to change any benefit plan without notice. Benefits are not a guarantee of employment.
For benefit questions & claims assistance, contact TouchCare at 866-486-8242 or assist@touchcare.com.
For HR related questions, contact the HR Service Desk.
