Life Insurance

Having the right amount of life insurance can help protect your loved ones and provide for their future. Eligible team members are provided with basic employer-paid life insurance and also have the option of purchasing additional supplemental coverage.

A beneficiary is the person or people you choose to receive payment of your life insurance upon your death. Naming them establishes your plan as a legal contract – in fact, these beneficiaries are actually honored over whomever you've named in your will. Without naming them, your benefits may have to go through the court system, significantly delaying transferring funds to your loved ones.

To complete your enrollment, you must have a current beneficiary on file. You can change them at any time by accessing the Beneficiary Designation form through the Human Resources page on CLICK. 


Plan Highlights

  • Basic (employer-paid) coverage for full-time Team Member provides a lump-sum death benefit equal to your annual earnings (flat $15,000 for part-time employees) at no cost to you.
  • Supplemental (employee-paid) coverage is available in increments of $10,000 up to a (combined with basic) maximum of five times your salary, not to exceed $1,000,000. Rates are based on your age.
  • Spouse/Domestic Partner (employee-paid) coverage is available in increments of $1,000 starting at a minimum of $5,000 and a maximum benefit of $50,000. Rates are based on your spouse or domestic partner's age.  
  • Dependent (employee-paid) coverage provides life insurance for your child(ren) under the age of 21 with no limits on the number of dependents covered. Rates are based on the dollar amount of coverage selected.

SUPPLEMENTAL COVERAGE – TEAM MEMBER ONLY*

AGE Purchase in increments of $10,000
(rates per $1,000/month)
Up to age 30 $0.04
30 – 34 $0.05
35 – 39 $0.07
40 – 44 $0.12
45 – 49 $0.21
50 – 54 $0.35
55 – 59 $0.55
60 – 64 $0.85
65 – 69 $1.53
70+ $2.74

*Minimum of $10,000 – max of 5x basic annual earnings of $1,000,000 combined with basic benefit


SUPPLEMENTAL SPOUSE/DOMESTIC PARTNER COVERAGE*

AGE Purchase in increments of $1,000
(rates per $1,000/month)
Up to age 25 $0.055
25 - 29 $0.063
30 - 34 $0.084
35 - 39 $0.095
40 - 44 $0.103
45 - 49 $0.175
50 - 54 $0.261
55 - 59 $0.501
60 - 64 $0.805
65 - 69 $1.610
Over 70 $2.605

*Minimum of $5,000 – max of $50,000


DEPENDENT CHILD(REN) COVERAGE*

CHOICE OF:
$5,000
$0.05 per pay period
$10,000
$0.10 per pay period
$15,000
$0.15 per pay period

*Unlimited number of dependent children.  Only available through age 21.

 Good to know

  • You can divide benefits among your beneficiaries however you choose – it doesn't have to be equal.
  • You're allowed to name a contingent beneficiary. That means, should your primary beneficiary die before you, your designated contingent beneficiaries would automatically get the primary's share.
  • Be sure to keep all your beneficiaries up-to-date on any plan changes due to a life-changing event like marriage or divorce.