Life Insurance Plans
Optional Life Insurance
You may purchase additional life insurance for you, your spouse/domestic partner and/or your children. When you enroll during your initial enrollment period as a new hire, coverage is guaranteed issue.
Voluntary Life
You may purchase $10,000 to $100,000 (in $10,000 increments) of group term life insurance.
NOTE: Under Section 79 of the IRS Code, employees are liable to pay federal income taxes on Group Term Life insurance amounts in excess of $50,000, to the extent that the costs for amounts in excess of $50,000, less any employee contributions for the entire coverage amount, is included in the employee’s gross income. This additional amount will be listed as imputed income on your W-2.