Life and AD&D Benefits
This is a 100% Employer Paid Benefit, provided at no cost to you.
Basic Group Life and Accidental Death and Dismemberment (AD&D) coverage is a 100% employer-paid benefit, provided at no cost to you. The basic life benefit will be paid to your beneficiaries in the event of your death. The AD&D benefit will be paid in the event of an injury resulting from a covered accident.
Benefits |
|
|---|---|
Benefit Amount |
100% of your annual earnings |
Minimum Amount |
$10,000 |
Maximum Amount |
$100,000 |
Spouse Benefit |
$2,000 |
Child Benefit |
$2,000 |
When your needs call for more than Basic Life and AD&D coverage, additional Voluntary Life and AD&D coverage is available for purchase for you, your spouse and your dependent children. Coverage purchased through this plan is offered at a group discounted rate with guaranteed issue amounts. Employees must elect coverage in order to purchase spouse or child coverage.
During open enrollment, you may enroll or increase coverage for yourself or your spouse by one increment without EOI, within plan maximums. For child coverage, you may enroll or increase coverage by more than one increment, up to $10,000.
Voluntary Life Insurance rates are based on the coverage amount and age. See the Benefits section of the Paylocity home page for more information.
Employee |
|
|---|---|
Guaranteed Issue |
$200,000 |
Increments |
$10,000 |
Maximum |
$500,000 |
Spouse |
|
|---|---|
Guaranteed Issue |
$20,000 |
Increments |
$5,000 |
Maximum |
$250,000, not to exceed 50% of the employee's voluntary life |
Child(ren) |
|
|---|---|
Guaranteed Issue |
$10,000 |
Increments |
$2,000 |
Maximum |
$10,000, not to exceed 50% of the |