Basic Life and AD&D

Life and AD&D coverage helps protect your loved ones in the event of your death or serious injury. Even if you’re single, your beneficiary can use your Life insurance benefits to pay off your debts, such as credit cards, mortgages, and other final expenses.

Basic Life insurance – Staff receives Basic Life insurance coverage at no cost, Basic Life insures you for 1x times your basic annual earnings, up to a maximum of $350,000. Senior Counsel pays for this coverage.

Imputed Income – Under current tax laws, imputed income is the value of your Basic Life insurance that exceeds $50,000 and is subject to federal income, Social Security and state income taxes, if applicable. This imputed income amount will be included in your paycheck and shown on your W-2 statement.

    Basic AD&D  is included with Staff Basic Life coverage and is offered to Partners and provides specified benefits for a covered accidental bodily injury that directly causes dismemberment (i.e., the loss of a hand, foot or eye). If death occurs from an accident, 100% of the AD&D benefit would be payable to your beneficiary(ies).

    Voluntary Life and AD&D

    In addition to Basic Life and AD&D, eligible employees may purchase additional Voluntary Life and AD&D insurance at favorable group rates. Participants pay 100% of the premium. Note: It is important to provide beneficiary information during the enrollment process and keep this information up to date. If you decline Voluntary Life insurance when first eligible or if you elect coverage and wish to increase your benefit amount at a later date, evidence of insurability may be required before coverage is approved. 

    Voluntary Life

    For Staff: Increments of $10,000 up to lesser of 5 times your covered annual earnings or $500,000. Guaranteed issue of $100,000.

    For Staff Spouse/DP: Increments of $5,000 up to the lesser of 50% of your amount or $250,000. Guaranteed issue of $50,000.

    For Staff and Partners Children: Under 6 months: $1,000; 6 months and older: increments of $2,000 up to the lesser of 50% of your amount or $10,000. Guaranteed issue of $10,000.

    For Partners: Increments of $10,000 up to lesser of 5 times your covered annual earnings or $1,500,000. Guaranteed issue of $350,000.

    For Partner Spouse/DP: Increments of $5,000 up to the lesser of 50% of your amount or $500,000. Guaranteed issue of $50,000.

    Voluntary AD&D

    For Staff and Partners: Increments of $10,000 up to $1,000,000.

    For Spouse/DP: Spouse only: 50% of employee benefit amount; Spouse and children: 40% of employee benefit amount.

    For Children: Children only: 15% of employee benefit amount; Spouse and children: 10% of employee benefit amount.