Page 12 - Benefits Guide BICS 2020 Final

Life and AD&D Insurance

Anthem Blue Cross | Basic Life and AD&D Insurance
Life insurance protects your family or other beneficiaries in the event of your death while you are still actively employed with the
company. BICS pays for life insurance coverage in the amount of 2 times your annual base salary to a maximum benefit of
$500,000. If your death is due to a covered accident or injury, your beneficiary will receive an additional amount through
Accidental Death and Dismemberment (AD&D) coverage.

Due to IRS regulations, a life insurance benefit in excess of $50,000 is considered a taxable benefit. You will see the value of the
benefit above $50,000 included in your taxable income on your paycheck and W-2.

Anthem Blue Cross | Supplemental Life Insurance
In addition to the company-provided Basic Life and AD&D benefits, you may elect to purchase additional Term Life and AD&D
insurance at discounted group rates. If elected, you pay for this coverage with after-tax dollars through convenient payroll
deductions.

Employee

You may purchase coverage for yourself in increments of $10,000 up to a maximum benefit of $300,000, not to exceed 5 times
your annual salary.

Spouse
If you buy coverage for yourself, you may also purchase coverage for your eligible spouse. Benefits for your spouse are available in
increments of $5,000, up to a maximum benefit of 50% of your employee election and capped at $150,000.
Child(ren)

If you buy coverage for yourself, you may also purchase coverage for your eligible dependent child(ren). The benefit amount is for
children age 15 days to age 26, and you may elect either $5,000 or $10,000.

Guarantee issue is a pre-approved amount of coverage that does not require you to provide proof of good health, and is available
to you during your initial eligibility period (upon hire). Guarantee issue is available in the following amounts:
• Employee: $100,000
• Spouse: $25,000
• Child(ren): $10,000

If you are no longer in your initial eligibility period or need to increase your current elected amount, you may be required to
provide proof of good health. To do so, please complete a copy of the Evidence of Insurability (EOI) and send it to Anthem directly
for review and approval. For more information on EOI, please contact the People Operations team. The EOI form can be located on
UltiPro’s homepage.

Premium

The cost of coverage will automatically be calculated for you in the UltiPro system and shown when you enroll. Premiums are
based on your age and benefit amount selected.

Reminders:
• Please make sure you select a beneficiary upon enrollment and review your beneficiary annually during enrollment to ensure
you have the correct individual (or individuals) listed.
• It is generally not recommended for children under the age of 18 to be listed as beneficiaries.

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