Basic life and AD&D insurance
Acme provides company-paid employee life insurance coverage of a specific amount that lasts throughout your employment.
To help protect the financial well-being of your loved ones, Acme provides basic life insurance and accidental death and dismemberment (AD&D) insurance for employees — at no cost to you — along with the opportunity to purchase supplemental coverage. In addition, you have the protection of company-paid business travel accident insurance.
2020 life and AD&D insurance plans
Supplemental life and AD&D insurance
If you want additional coverage, you can buy supplemental life and AD&D insurance for yourself and your family.
Be sure to name a beneficiary
It’s important to designate a beneficiary to receive the benefit paid by a life insurance policy. As personal circumstances change, take the time to keep that information up to date. Visit the Acme Enrollment website to add or change a beneficiary.
Acme provides basic life and AD&D insurance to assist you and your family in the event of a death or dismemberment. These benefits are fully paid by the company and coverage is automatic — you do not need to enroll.
Benefits are equal to:
- Basic life insurance: $100,000
- Basic AD&D insurance: $100,000
What is AD&D insurance?
Should you lose your life, sight, hearing, speech, or use of your limb(s) in an accident, AD&D insurance provides additional benefits to help keep your family financially secure. AD&D benefits are paid as a percentage of your coverage amount — from 50% to 100% — depending on the type of loss.
If you want more financial protection beyond the basic coverage that Acme provides, you can buy supplemental life and AD&D insurance for yourself and your family members. You can enroll on the Acme Enrollment website as a new hire, during Open Enrollment, or if you have a qualifying life event. You pay the full cost of this coverage, which is provided through Metlife. You must purchase coverage for yourself in order to purchase it for your dependents.
For you
You may elect supplemental life and/or AD&D coverage for yourself in the following amounts:
- Supplemental employee life – in $10,000 increments, up to 5 times your salary (maximum of $1,000,000).
- Supplemental employee AD&D – in $10,000 increments, up to 5 times your salary (maximum of $500,000).
For your spouse/domestic partner
You may elect life and/or AD&D insurance for your spouse or domestic partner in the following amounts:
- Spouse/domestic partner life – in $10,000 increments, up to a maximum of $250,000 (not to exceed your coverage).
- Spouse/domestic partner AD&D – in $10,000 increments, up to a maximum of $250,000 (not to exceed your coverage).
For your children
You may elect child life insurance in a flat coverage amount of $1,000 for newborn children through 14 days old or $10,000 for children age 15 days through age 25.
Evidence of insurability
Supplemental life insurance for you and your spouse/domestic partner over a certain benefit amount may require evidence of insurability (EOI). After electing coverage, you will receive more information if EOI is required.
When traveling on behalf of the company, be assured you are protected under a company-paid business travel accident insurance policy should an accident occur. This policy through Chubb provides coverage for certain injuries or death resulting from an accident during business travel.
You are covered for five times your annual base salary, up to a maximum benefit of $500,000. Coverage is automatic — you do not need to enroll, and there is no cost to you.