GBS DLL booklet 2016_Flip

Employee Life Insurance
A member can purchase additional life insurance for
himself or herself in $10,000 increments to a maximum
of $500,000; Guarantee Issue of the lesser of $250,000
or 3 x earnings when first eligible for the benefit, and you
must designate a beneficiary.
Basic Employee Accidental Death &
Dismemberment Insurance (AD&D)
Accidental Death & Dismemberment Insurance
provides additional financial protection to you or your
family in the event of accidental death, dismemberment,
blindness or loss of speech or hearing due to an
accident. DLL provides an Accidental Death &
Dismemberment Insurance benefit equal to one times
your annual earnings to a maximum benefit of
$400,000. This benefit is provided in addition to your
Basic Life Insurance. If you instruct DLL to cap your
Basic Life Insurance benefit to $50,000, your Basic
AD&D benefit will be subject to the same limit as well.
Important Note:
Your life and AD&D benefit may reduce
depending on your age.
Supplemental Life/Accidental Death &
Dismemberment (AD&D) Insurance
To help protect your family’s financial security, you can
purchase additional Life/AD&D Insurance for yourself,
and additional Life Insurance for your spouse/domestic
partner and dependent children.
Additional Coverage for Employees and
Dependents of Employees
In order to elect additional Life Insurance coverage for a
spouse/domestic partner, members must enroll in
Employee Supplemental Life Insurance. Also, the
Supplemental Life Insurance amount you elect for your
spouse/domestic partner cannot be more than 50% of
your Employee Supplemental Life Insurance amount.
For example, if you elect Supplemental Life Insurance
for yourself of $100,000, the Supplemental Life
Insurance for your spouse/domestic partner cannot
be more than $50,000.
You may only change your life insurance benefit at Open
Enrollment each year unless you experience a life event.
Employee AD&D Insurance
A member can purchase additional AD&D Insurance for
himself or herself in $10,000 increments to a maximum
of $500,000.
Spouse/Domestic Partner Life Insurance
A member can purchase additional life insurance for a
spouse/domestic partner in $5,000 increments to the
lesser of $250,000 or 50% of the employee benefit;
Guarantee Issue of $20,000 when first eligible; the
member is the beneficiary for spouse/domestic partner
coverage and must also purchase employee coverage.
Dependent Child(ren) Life Insurance
A member can purchase additional life insurance for
dependent child(ren) in $1,000 increments to lesser of
$10,000 or 50% of the employee benefit; Guarantee
Issue of $10,000; the member is the beneficiary for
dependent coverage and must also purchase
employee coverage.
When Coverage Ends
Your Life Insurance and AD&D coverage ends when any
of the following occurs:
––
Your employment with the company ends.
––
The group policy is terminated.
Reminder: Supplemental Life Insurance
— In order to elect Supplemental Life
Insurance for a Spouse/Domestic
Partner, members must enroll in
Employee Supplemental Life Insurance.
Also, the Supplemental Life Insurance
amount you elect for your spouse
cannot be more than 50% of your
Employee Supplemental Life Insurance
amount. For example, if you elect
Supplemental Life Insurance for yourself
of $100,000, the Supplemental Life
Insurance for your Spouse/Domestic
Partner cannot be more than $50,000.
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