LIFE INSURANCE

Life and accidental death and dismemberment (AD&D) provides your beneficiary with a sum of money in the event of your death. Brightpoint provides group life insurance at no cost to you. You can purchase additional coverage for you and your eligible family members for added protection (refer to Voluntary Life and AD&D). The Life and AD&D plans are administered by BlueCross BlueShield of IL.

Group Life and AD&D (paid by employer)
Base Life and AD&D

2x annual base salary per employee – Life

2x annual base salary per employee – AD&D

 Guarantee Issue AmountLesser of 2x annual earnings or $375,000
 Maximum Benefit Amount$750,000
Reduction ScheduleBenefits reduce by 35% of the original amount at age 65, 55%  of the original at age 70, and 80% of the original amount at age 80

Basic Life and AD&D Benefit Summary

All full-time employees may purchase additional life insurance for yourself, your spouse and/or your child(ren). Costs are determined on group discounted rates. Always make sure your beneficiary information is updated.

Voluntary Life and AD&D  (paid by employee)
Employee Benefit

Increments of 1-4x Annual Salary, up to $750,000 

Guarantee Issue: $300,000, not to exceed 3x salary

Spouse Voluntary Life Amount

Increments of $5,000 to $50,000 not to exceed 50% of Employee’s Benefit. The spousal coverage terminates when the employee reaches age 70

Guarantee Issue: $25,000

Child(ren) Voluntary Life Amount – age 14 days old to 26 years

Children 15 days to 6 months: $5,000

Age 6 months to 26 years: Increments of $5,000 to $10,000

Employee Age ReductionBenefits reduce by 35% of the original amount at age 65, 55%  of the original at age 70, and 80% of the original amount at age 80

Voluntary Life and AD&D Benefit Summary

Age BandEmployee + Spouse Monthly Rates per $1,000
Under 30$0.069
30-34$0.080
35-39$0.100
40-44$0.158
45-49$0.329
50-54$0.520
55-59$0.860
60-64$1.220
65-69$2.110
70+ (EE only)$3.150
AD&D Rate$0.02
Child Rate$0.202

Annual enrollment will allow employees and spouses currently enrolled in Voluntary Life, to increase up to one increment, if they do not go over the Guarantee Issue amount listed above.

Any purchase of increase of voluntary life benefits which does not take place within 31 days of employee’s or dependents’ eligibility effective date is subject to evidence of insurability.

Please click this link https://groupadmins.hcsc.net/eoi/#!/public/instructions  to complete the Evidence of Insurability form online.