Life and AD&D Insurance
Basic life with accidental death & dismemberment (AD&D) insurance is provided to you at no cost and pays a death benefit to your beneficiary if you die. You have the option to buy supplemental life with AD&D insurance for yourself, additional AD&D insurance for you and your family, dependent life insurance for your spouse and dependent life insurance for your children at group discounted rates through Voya, BJC’s life and AD&D insurance carrier.
Basic Life with AD&D Insurance
- The benefit for a full-time employee* is one times base annual salary, up to $500,000.
- The benefit for a part-time employee is $15,000.
- If you are injured or die because of an accident, the plan may also pay an AD&D benefit.
- The IRS requires a tax on employer-paid life insurance coverage greater than $50,000. If your salary is greater than $50,000, you can elect to limit your coverage to $50,000 to avoid the tax impact.
*Director level and above are eligible for different life insurance. Please review the Director+ or VP+ Supplemental Guide for details. BJC Medical Group employees with employment agreements may also experience different benefits.
Supplemental Life with AD&D Insurance
Full-time employees may purchase supplemental life with AD&D in increments of one to five times their annual base salary. Eligible part-time employees may purchase supplemental life and AD&D coverage in the amount of $15,000 or $30,000.
New hires or newly benefit-eligible employees:
- During this enrollment, full-time employees will be automatically approved for any increment of one to five times their base annual salary, up to $500,000. Amounts greater than this guaranteed issue coverage amount will be subject to Evidence of Insurability (EOI).
- Part-time employees may elect either $15,000 or $30,000 in supplemental life coverage, and EOI is not required.
- If evidence of insurability (EOI) is required, you will receive an email from Voya with instructions a few weeks after your enrollment is completed.
- Your combined basic and supplemental life coverage cannot exceed $1.5 million.
- At age 70, basic life and supplemental life insurance coverage is reduced to 55 percent of the elected amount you had prior to age 70. When you reach age 75, life insurance coverage is reduced to 35 percent of the amount of coverage you had prior to age 70.
Additional AD&D Insurance
For an additional layer of protection, you can purchase additional personal and family AD&D insurance that pays benefits if you or a covered dependent is severely injured or dies in an accident. Maximum coverage amounts are $500,000 for employees, $200,000 for spouses and $50,000 for children.
Dependent Life Insurance
You can purchase life insurance for your spouse and eligible children.
You can elect coverage in $10,000 increments for your spouse, up to a maximum of $250,000. The cost of coverage is based on your (the employee’s) age. You can choose $5,000 or $10,000 in coverage for your children.
If you elect up to $60,000 in spousal coverage when you are first eligible, it will be automatically approved. Coverage amounts greater than $60,000 for spousal coverage will require EOI. Voya will send you instructions on how to complete EOI after you enroll.
Employee Costs for Dependent Life Insurance
Employee Costs for Supplemental Life with AD&D Insurance and Additional AD&D Insurance, and Employee Costs for Dependent Life Insurance.
Additional services available through your life insurance coverage
Voya funeral planning services and Voya travel assistance program