Life and AD&D

Life and Accidental Death and Dismemberment (AD&D) insurance through Anthem, provides financial security to you and your family if you pass away or become seriously injured.

  • Basic Life and AD&D: As an eligible employee, you receive both Basic Life and Basic AD&D insurance equal to 2 times your annual earnings to a maximum of $300,000. Coverage exceeding $50,000 is subject to imputed income. This means the premium for any amount over $50,000 must be included as income and will be subject to Social Security and Medicare taxes, which may be reflected in your paycheck. The cost of Basic Life and AD&D coverage is sponsored by P2S LP.

  • Voluntary Life and AD&D: In addition to Basic Life and AD&D, you may buy voluntary Life and AD&D coverage at discounted rates that you may not be able to secure on your own. The chart below describes the amounts of coverage you can buy for yourself, your spouse, and your child(ren).

*Evidence of Insurability (EOI) may be required.
 
How much voluntary Life and AD&D insurance should I buy?
When deciding how much voluntary Life and AD&D coverage to buy, consider the following three factors:
  • How much will your dependents need to pay debts, such as a mortgage, car loan, or credit card balances?
  • How much do your dependents need to maintain their current standard of living?
  • What kind of future would you like to provide for your dependents or others who depend on you for financial support?
 
Who should be my beneficiary?
You may choose anyone to be the beneficiary of your Life and AD&D policy in the event of your death or serious injury. Once you select your beneficiary, your designation will remain unchanged until you submit a new beneficiary designation form. We encourage you to periodically review your beneficiary designations to ensure they are up to date and accurate. You may change your beneficiary as often as you wish by contacting Human Resources.

Supplemental Information:



*Anthem Life & Disability plans are now administered by The Standard. Anthem plan documents will remain in effect for the remainder of the plan year*










Contact
Group #: L07933
Phone: 800-604-4381
Website: www.anthem.com



What is EOI?

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 outside of 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 Anthem and you will be notified of their decision directly.